All 15 IPAY 2028 manufacturers agree to negotiate, Lilly included
CMS says all 15 drugmakers selected for the third round of Medicare drug price negotiations, plus the maker of a drug up for renegotiation, have agreed to take part, but the source does not name which drugs are on the list.
The Centers for Medicare & Medicaid Services (CMS) announced on March 13, 2026, that every drug company with a product selected for the third cycle of Medicare drug price negotiation has chosen to participate [1]. That covers all 15 drugs slated for initial price applicability year (IPAY) 2028, whether they are covered under Medicare Part B or Part D [1]. In addition, the manufacturer of the one drug chosen for renegotiation in this cycle is continuing in the program [1].
CMS says the negotiations themselves will take place during 2026, and any prices the agency reaches with the companies will not take effect until 2028 [1]. The agency's public page lists fact sheets tied to this announcement, including one titled "CMS Announces Manufacturer Participation in Third Cycle of Medicare Drug Price Negotiation" and another laying out the full IPAY 2028 selected drug list [1]. However, the source material provided does not itself spell out which 15 drugs, or which companies, made this year's list [1].
That matters here because the headline for this story states Eli Lilly is among the participating manufacturers, but the CMS webpage text does not confirm this or name any specific drug, including tirzepatide products such as Mounjaro or Zepbound. The page does show that semaglutide products — Ozempic, Rybelsus, and Wegovy — went through negotiation in the second cycle, for IPAY 2027, with a maximum fair price (MFP) explanation file already posted for those three brands [1]. That is a separate, earlier round from the one described in this announcement. Whether semaglutide or tirzepatide products appear on the newer IPAY 2028 list is not established by the source and is not yet known from what is available here.
For context on how the process has worked in earlier cycles, the first round covered 10 Part D drugs with prices taking effect January 1, 2026, including Eliquis, Jardiance, and Januvia among others [1]. The second round covered 15 Part D drugs, including the semaglutide products, with prices set to begin January 1, 2027 [1]. The third round, the subject of this announcement, involves 15 drugs plus one renegotiated drug, with prices to start in 2028 [1].
Why it matters for patients
Participation by all 15 manufacturers means CMS can proceed with negotiations as planned in 2026 rather than face a company refusing to negotiate, which under the law can carry steep penalties for manufacturers [1]. For patients enrolled in Medicare, any price CMS eventually negotiates for a drug on this list would not lower what they pay at the pharmacy counter until 2028 at the earliest [1]. Because the source does not identify which specific drugs are on the IPAY 2028 list, Medicare patients taking semaglutide or tirzepatide medications cannot yet know from this announcement whether their own prescriptions are affected. People who rely on Ozempic, Wegovy, Rybelsus, Mounjaro, or Zepbound and are on Medicare will need to watch for CMS to publish the actual IPAY 2028 selected drug list to see if their medication is included.
What happens next
CMS says negotiations between the agency and the 15 participating manufacturers, plus the one renegotiation manufacturer, will occur during 2026 [1]. Any agreed-upon maximum fair prices from this round would become effective starting in 2028 [1]. CMS has said it will continue updating its selected drug and pricing files, including through fact sheets and negotiation-cycle documents posted to its website, as the process moves forward [1].
Sources
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