Medicare is seeking discounts on 10 heavily used drugs, but many are mature products and will lose marketing exclusivity soon.
The government says it will save $160 billion over the next decade as Medicare negotiates prices for 10 heavily used drugs, but Wall Street analysts see only a limited impact on drug companies.
In a note following Tuesday’s announcement, the drug analysts at Guggenheim Securities repeated their view that the program’s impact on drug sales during its first few years after 2026 will be limited. That’s because most of the 10 listed drugs have been on the market for over a decade and will lose marketing exclusivity in the next few years.
Most analysts expect Eliquis sales at Bristol to peak in 2025 at about $13.5 billion, with an 8% decline in 2026, the first year of negotiated prices. Sales are projected to plunge by 40% in 2028, when competitors can legally start making the drug.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Biden administration announces plan to negotiate lower prescription drug pricesTen of the most widely used drugs, including Eliquis, Jardiance and Xarelto, will be targeted for price reduction within the Medicare program.
Read more »
Drug pricing reform law: Medicare to negotiate price of blood thinners, insulinPresident Biden’s administration has long sought to fight the rising cost of life-saving medications.
Read more »
Factbox: Court challenges to Medicare drug price negotiation planThe U.S. government on Tuesday selected the first 10 drugs, including the big-selling blood thinner Eliquis from Bristol Myers Squibb and Pfizer , that will be subject to the first-ever Medicare price negotiations, part of President Joe Biden’s Inflation Reduction Act (IRA) that drugmakers and industry groups have challenged in court.
Read more »
Breaking down Biden's drug price plan and the challenges it facesThe Biden administration has named 10 prescription drugs it hopes to make cheaper for Medicare recipients through negotiations with drug companies. The White House says the drugs on the list include Jardiance for diabetes and the blood thinner Eliquis. CBS News senior White House and political correspondent Ed O'Keefe has more details.
Read more »
Eliquis, Jardiance among 10 drugs Biden administration will negotiate prices forThe Biden administration has announced the first 10 drugs which will be subject to price negotiations in an effort to slash Medicare costs.
Read more »
The 10 Drugs Medicare Can Negotiate Were Just AnnouncedThe Inflation Reduction Act gives Medicare the ability to directly negotiate the prices of certain drugs for the first time.
Read more »