CMS finalizes GLOBE Medicare drug price demo, projected savings cut to $440 million

The Centers for Medicare & Medicaid Services (CMS) announced it has completed the GLOBE demonstration program, which is intended to lower the cost of prescription drugs covered by Medicare.

Earlier estimates suggested the initiative could generate up to $11.9 billion in savings, but the final analysis now projects only about $440 million in annual savings.

The announcement was made by CMS chief Mehmet Oz during a White House health care event with President Donald Trump on Sept. 18.