The Centers for Medicare & Medicaid Services Nov. 25 announced lower prices for 15 Medicare Part D drugs selected for the second cycle of negotiations under the Inflation Reduction Act’s Medicare Drug Price Negotiation Program. The selected drugs are used to treat cancer, diabetes, asthma and other chronic conditions. CMS said the new pricing will take effect Jan. 1, 2027, and that Medicare Part D beneficiaries are expected to save $685 million in out-of-pocket costs as a result.