The Inflation Reduction Act gave Medicare historic new power to directly negotiate the prices of some of the costliest prescription drugs. Now the federal agency must grapple with a difficult question: What makes a drug price fair? This week, we revisit our 2023 episode explaining how this negotiation process works and the impact it could have. Guests: Anton Avanceña, PhD, Assistant Professor of Health Outcomes, University of Texas  Darius Lakdawalla, PhD, Professor of Pharmaceutical Economics and Public Policy, University of Southern California  Lauren Neves, JD, Deputy Vice President, PhRMA Steve Pearson, MD, MSc, Founder and President, Institute for Clinical and Economic Review (ICER) Ben Rome, MD, MPH, physician and researcher, Harvard Medical School Meena Seshamani, MD, PhD, Deputy Administrator, Centers for Medicare and Medicaid Services Leslie Walker, Senior Producer/Reporter, Tradeoffs Learn more and read a full transcript on our website. Want more Tradeoffs? Sign up for our free weekly newsletter featuring the latest health policy research and news. Support this type of journalism today, with a gift. Hosted on Acast. See acast.com/privacy for more information.