The Centers for Medicare & Medicaid Services (CMS) released a list of 10 top-selling prescription drugs to be negotiated with Medicare. The market reaction has been limited as the list was expected. Companies' revenue risk is manageable as the drugs selected are no longer a large portion of their portfolios. Some drugs will lose their exclusivity around or after 2026, when the negotiated prices go into effect. Bristol Myers Squibb and Johnson & Johnson are at highest risk of revenue loss by 2026.
Implications of the Medicare Price Negotiations Announcement for BMY and JNJ
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