The Centers for Medicare & Medicaid Services released final negotiated maximum fair prices for 15 drugs under the Inflation Reduction Act, including semaglutide products Wegovy and Ozempic. CMS said the second‑round prices would have reduced aggregate net spending by about 44% if applied in 2024, or 36% accounting for Part D redesign discounts. The list includes high‑expenditure branded therapies across oncology, respiratory and metabolic disease, and CMS reported a mix of negotiated outcomes reached by counteroffer or acceptance of final agency offers. Manufacturers may face material revenue impacts and legal challenges as the program’s second year of price setting takes effect. The pricing list is likely to influence commercial strategies, patient access programs and contracting with payors; stakeholders across industry and policy will monitor how these prices affect uptake, manufacturer behavior and broader market dynamics ahead of the 2027 implementation timetable.