April 29 (Reuters) - The U.S. Centers for Medicare & Medicaid Services said on Wednesday it has extended key application deadlines for drugmakers and states to join the payment model, which aims to negotiate lower prices on their prescription medicines for the U.S. Medicaid program for low-income Americans.
• Drug manufacturers now have until June 11, instead of April 30, to apply, giving companies more time to prepare applications.
• The agency also extended the deadline for drugmakers to enter participation
agreements to July 17, from June 30.
• CMS said the extra time is meant to help small and mid-sized drug manufacturers engage with the agency and review participation requirements.
• Companies that make at least one drug and take part in the Medicaid Drug Rebate Program are eligible to apply, according to CMS.
• The model is designed to make it easier for state Medicaid programmes to access participating manufacturers' drugs, the agency said.
• The payment model aims to offer comparable drug prices to those paid in other developed countries.
• The agency also extended the deadline for states to apply to the model to September 10, from July 31.
• CMS said states will now have until September 30, to finalise participation agreements, pushing back the earlier August 31 deadline.
• Under the model, announced in November, state Medicaid programmes would be able to buy some drugs at prices linked to those paid in select other countries, CMS said.
(Reporting by Sahil Pandey in Bengaluru)
