A blood thinner, diabetes treatments and drugs used to treat autoimmune disease and heart failure are on the list of 10 drugs that the Centers for Medicare & Medicaid Services has targeted for price negotiations to cut Medicare costs.
In a statement, the government said the list of 10 drugs represented more than $50 billion, or about 20%, of Part D gross covered prescription drug costs between June 1, 2022 and May 31, 2023. That’s the period used to decide which drugs were eligible for negotiation.
RELATED: Biden targets diabetes drug Jardiance, blood thinner Eliquis and 8 others for Medicare price talks
The next step is for the government to negotiate prices for the 10 drugs with their manufacturers, in an effort to reduce prices for patients. The program already faces lawsuits from drugmakers and criticism from Republican lawmakers. It’s also a centerpiece of Demcrat Joe Biden’s reelection pitch as he seeks a second term in office by touting his work to lower costs for Americans at a time when the country has struggled with inflation.
The selected drugs for the first round of negotiation are:
- Eliquis
- Jardiance
- Xarelto
- Januvia
- Farxiga
- Entresto
- Enbrel
- Imbruvica
- Stelara
- Fiasp; Fiasp FlexTouch; Fiasp PenFill; NovoLog; NovoLog FlexPen; NovoLog PenFill
The Centers for Medicare & Medicaid Services will publish any agreed-upon negotiated prices for the selected drugs by September 1, 2024 and the new pricing will take effect in January 1, 2026. In future years, CMS will select for negotiation up to 15 more drugs covered under Part D for 2027, up to 15 more drugs for 2028 (including drugs covered under Part B and Part D), and up to 20 more drugs for each year after that, as outlined in the Inflation Reduction Act.
The Associated Press contributed to this report
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