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; 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, with respect to an applicable period (as defined in subparagraph (H))— (i) during the negotiation year (as defined in such subparagraph) for such period, negotiate with pharmaceutical manufacturers the prices (including discounts, rebates, and all other price concessions) that may be charged to PDP sponsors and MA organizations for applicable covered part D drugs (as defined in such subparagraph) furnished to enrollees during such period