As part of the Inflation Reduction Act, Medicare can now negotiate drug prices with the pharmaceutical companies that produce them. Tuesday, the Centers for Medicare and Medicaid Services unveiled its list of the first 10 drugs for which it will negotiate drug prices in coming months.
SALT LAKE CITY — As part of the Inflation Reduction Act, Medicare can now negotiate drug prices with the pharmaceutical companies that produce them. Tuesday, during a White House press conference, the Centers for Medicare and Medicaid Services unveiled its list of"Today is the start of a new deal for patients where Big Pharma doesn't just get a blank check at your expense and at the expense of the American people," President Joe Biden said.
Health and Human Services Secretary Xavier Becerra said the move is part of the Biden administration's effort to increase availability and reduce prescription drug costs "for all Americans." The Congressional Budget Office has estimated that the price negotiation could save Medicare $98.5 billion over 10 years.Eliquis for prevention and treatment of blood clots;Xarelto for prevention and treatment of blood clots and risk reduction related to coronary or peripheral artery disease.Entresto for heart failure;Imbruvica for blood cancers;Fiasp; Fiasp FlexTouch; Fiasp PenFill; NovoLog; NovoLog FlexPen; NovoLog PenFill for diabetes.
Of the drugs on the list, Eliquis is used by the most Medicare Part D drug benefit enrollees: 3.7 million; 1.6 million are prescribed Jardiance and 1.4 million Xarelto. Even Imbruvica, which is prescribed for the fewest enrollees of the drugs listed, has been used by 20,000, according to a departmentFor 2027, future negotiations will include 15 more drugs covered under Part D and up to 15 more for 2028.
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