1. Short title This Act may be cited as the Medicare Drug Price Negotiation Act . 2. Negotiation of lower covered part D drug prices on behalf of Medicare beneficiaries and establishment and application of formulary by the Secretary of Health and Human Services under Medicare part D (a) In general Section 1860D–11 of the Social Security Act ( 42 U.S.C. 1395w–111 ) is amended by striking subsection (i) (relating to noninterference) and inserting the following: (i) Negotiation of Lower Drug Prices; establishment and application of formulary (1) Negotiation (A) In general Notwithstanding any other provision of law, subject to subparagraph (B), the Secretary shall during a negotiation year and with respect to the negotiation drug grouping identified under subparagraph (C) with respect to such negotiation year— (i) negotiate with pharmaceutical manufacturers the prices (including discounts, rebates, and all other price concessions) that may be charged for each plan year during the negotiated price period, with respect to such negotiation year, to PDP sponsors and MA organizations for covered part D drugs identified as included within such negotiation drug grouping for part D eligible individuals who are enrolled under a prescription drug plan or under an MA–PD plan