The most recent announcement advances the Trump Administration’s efforts to rein in prescription drug costs. During the second negotiation cycle, Medicare finalized pricing agreements with manufacturers for all 15 selected drugs, effective Jan. 1, 2027. “For too long, seniors and taxpayers have paid the price for skyrocketing prescription drug costs,” noted CMS Administrator Mehmet Oz, MD. What happens next in the Medicare drug negotiation process? CMS Announces Selection of Drugs for Third Cycle of Medicare Drug Price Negotiation Program, Including First-Ever Part B Drugs.