Medicare announces cost-saving measures for prescription drugs.

The Centers for Medicare and Medicaid Services (CMS) has released its first guidance on how biopharma companies will negotiate with the federal government on the most expensive drugs beginning in 2026. The 91-page document sets requirements for manufacturers of Medicare Part D and B drugs that are selected for negotiations. Meanwhile, cancer vaccine biotech IMV is looking for strategic alternatives following a review of its business, while Bristol Myers Squibb has met some of its health equity goals early, and Eli Lilly's alopecia drug Olumiant is off to a positive start with dermatologists.