Medicare’s drug price negotiation program has moved into a third round, and for the first time it reaches drugs paid under Part B, the part of Medicare that covers care given in a doctor’s office or clinic. The Centers for Medicare & Medicaid Services (CMS) selected 15 drugs on January 27, 2026. Together they made up about $27 billion in Part B and Part D spending.
CMS has until November 30, 2026 to publish the prices it agrees on with the drug makers, according to the agency’s fact sheet on the 2028 list. Those prices take effect January 1, 2028. Roughly 1.8 million people with Part B or Part D coverage used these drugs between November 2024 and October 2025.
People who take Trulicity for diabetes, Biktarvy for HIV, or who get Botox, Orencia, Entyvio, Xolair or Cimzia treatments should check whether their medicine is on the list. Anyone on a drug from the earlier rounds should also know the date their price changes. A lower negotiated price does not arrive for every drug at once, and the dates differ by round.
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The 15 drugs on the 2028 list
CMS lists them by name: Anoro Ellipta, Biktarvy, Botox and Botox Cosmetic, Cimzia, Cosentyx, Entyvio, Erleada, Kisqali, Lenvima, Orencia, Rexulti, Trulicity, Verzenio, Xeljanz and Xeljanz XR, and Xolair. The CMS fact sheet ranks Trulicity first, at about $4.9 billion in combined spending, followed by Biktarvy at about $3.9 billion and Orencia at about $2.5 billion.
CMS says the drugs are payable under Part B, covered under Part D, or both. The agency has not said which of the 15 are Part B drugs. CMS Administrator Dr. Mehmet Oz said in the announcement that “for too long, seniors and taxpayers have paid the price for skyrocketing prescription drug costs.”
CMS also picked Tradjenta, a diabetes drug, for renegotiation. That is the first time the program has reopened a price it already set. On March 13, 2026, CMS announced that the makers of all 15 drugs and Tradjenta had agreed to take part.
What happens between now and November 30
The fact sheet sets out the calendar. CMS sent initial offers by June 1, 2026. Drug makers had until July 1 to accept or counter. The last negotiation meetings were due by September 11. October 31 is the deadline to accept or reject a final offer, and the negotiation period ends November 1.
CMS then has until November 30, 2026 to publish the agreed prices, and until March 1, 2027 to publish an explanation of how it reached them. Nothing about the 2028 prices is public yet. No one outside the talks can say how deep the cuts will be.
What the earlier rounds show
Two earlier rounds give a sense of scale. The first 10 drugs, all Part D, carry negotiated prices that took effect January 1, 2026. Eliquis, for example, is set at $231 for a 30-day supply, against a 2023 list price of $521. Januvia is $113, against $527. CMS estimated those prices would cut out-of-pocket costs by about $1.5 billion for people in Part D.
The second round covers 15 more Part D drugs, and its prices start January 1, 2027. The semaglutide family of Ozempic, Rybelsus and Wegovy is set at $274 for 30 days, against a $959 list price. Trelegy Ellipta is $175 against $654. CMS estimated about $685 million in out-of-pocket savings in 2027 and about $12 billion in net savings overall.
A negotiated price is not the same as what a patient pays at the counter. It sets the amount Medicare’s plans and the drug maker work from. What an individual pays still depends on the plan, the deductible and the coverage stage.
Where to see the lists
CMS keeps all three rounds on its selected drugs and negotiated prices page. The page also shows drugs that dropped out of the program. Stelara, Entresto, Xarelto and NovoLog/Fiasp are removed effective January 1, 2027, and Xeljanz is removed effective January 1, 2029, the page says.
The second-round list also includes Austedo, Breo Ellipta, Calquence, Ibrance, Janumet, Linzess, Ofev, Otezla, Pomalyst, Tradjenta, Vraylar, Xifaxan and Xtandi, per the same page. Janumet drops from a $526 list price to $80, and Breo Ellipta from $397 to $67, for a 30-day supply. Pomalyst, a cancer drug, goes from $21,744 to $8,650. All of those prices start January 1, 2027, so people on any of them will see the change in the first fill of the new year.
One date to watch
The November 30 publication is the first look at what Medicare will pay for drugs from Botox to Biktarvy. People who rely on any of the 15 will want to see their drug’s number, and whether CMS says it is a Part B or a Part D price. Anyone whose medicine sits on both lists should also keep the 2027 and 2028 start dates apart, since a drug’s price changes only when its own round takes effect.
Taking a drug from the 2028 list?
People on drugs like Trulicity, Biktarvy or Orencia can lose track of which price change applies to which medicine, and when. A missed Part D cost step or an unnoticed plan change can leave a bill higher than expected in January.
The Medicare Cost & Coverage Protection Kit lays out the new Part D out-of-pocket cap and includes a medication and cost tracker, along with 51 state Medicare cost-help packs. The tracker is where each medicine, its plan and its cost step can be written down in one place.
Track each medicine’s cost with the Medicare drug cost tracker →
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This article was produced with AI assistance and edited for accuracy against the sources linked above.
David M. Keller is a finance writer based in Columbus, Ohio, covering personal finance and consumer-focused economic topics. He earned his degree in journalism from Ohio University and began his career reporting on local business and economic trends for a regional media outlet. Since then, he has contributed to a variety of online publications, focusing on clear, practical coverage of topics such as cost of living, debt, and everyday financial decision-making.
