The Biden-Harris Administration has achieved a significant victory in its mission to reduce healthcare costs by revealing that all manufacturers of the ten selected drugs for negotiation have agreed to participate in the Inflation Reduction Act’s Medicare Drug Price Negotiation Program. This initiative is a significant step towards lowering healthcare expenses for seniors and families. For years, the pharmaceutical industry has resisted efforts to allow Medicare to negotiate lower drug prices directly, even though nearly three in ten Americans struggle to afford their medications.
In 2022, these ten drugs accounted for $3.4 billion in out-of-pocket expenses for approximately 9 million Medicare enrollees. The medications treat various conditions, including heart failure, diabetes, arthritis, cancers, and blood clots.
Manufacturers participating in the Medicare Drug Price Negotiation Program:
| Prescription Drug Name | Participating Manufacturer |
| Eliquis | Bristol Myers Squibb |
| Jardiance | Boehringer Ingelheim |
| Xarelto | Janssen Pharms |
| Januvia | Merck Sharp Dohme |
| Farxiga | AstraZeneca AB |
| Entresto | Novartis Pharms Corp |
| Enbrel | Immunex Corporation |
| Imbruvica | Pharmacyclics LLC |
| Stelara | Janssen Biotech, Inc. |
| Fiasp; Fiasp FlexTouch; Fiasp PenFill; NovoLog; NovoLog FlexPen; NovoLog PenFill | Novo Nordisk Inc. |
In 2026, the Medicare Drug Price Negotiation Program will roll out its initial set of drug price reductions. Over the next four years, negotiations will extend to cover 60 drugs, adding 20 each year. Seniors are already benefiting from free vaccines and capped insulin costs at $35 per month. Future savings include eliminating the 5% coinsurance for Part D enrollees in 2024, a projected $400 annual saving for 19 million seniors in 2025, and substantial savings for high-cost drug users.
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