Today, the Biden Administration began negotiations with 10 pharmaceutical companies for Medicare drug prices – starting a process to make popular medications more cost-effective for seniors. Under the Inflation Reduction Act passed last year, Medicare now has authority to directly negotiate these prices directly with manufacturers for certain drugs.
These 10 drugs include Eliquis and Xarelto for stroke and blood clot medication; diabetes medications Jardiance and Januvia; heart failure treatment Entresto; Enbrel as an autoimmune medicine and chronic kidney disease treatments Farxiga and Stelara for chronic kidney disease treatments.
Eliquis
Medicare’s ability to negotiate directly with drugmakers to lower costs has long been opposed by Big Pharma, but last year they passed legislation permitting such talks – with Biden’s administration now commencing them directly with them.
This week, the government will offer opening prices to manufacturers on 10 prescription drugs including blood thinner Eliquis and diabetes medications Januvia and Xarelto.
Jardiance
Medicare recently sent its initial offers to drugmakers of 10 popular lifesaving drugs, such as Eliquis, Jardiance, Xarelto, Januvia, Farxiga Entresto Entresto Enbrel Imbruvica Stelara; along with insulins Fiasp and NovoLog.
Jardiance belongs to a class of medications known as sodium-glucose co-transporter 2 inhibitors and has been proven in clinical trials to significantly improve heart disease outcomes among adults living with type 2 diabetes.
Xarelto
On Thursday, the administration sent initial price offers to drugmakers whose medications had been chosen for Medicare’s inaugural negotiations under the Inflation Reduction Act program. These 10 drugs include popular blood thinners, diabetes medications and multiple cancer treatments.
Last year, Medicare enrollees spent an estimated total of $3.4 billion out-of-pocket while the government forked over $50 billion for these drugs alone. To combat this cost-shift, the administration is planning on negotiating prices of these and 15 more similar drugs by August.
Januvia
The government recently sent initial offers to 10 widely prescribed drugmakers that produce widely prescribed treatments for heart disease, blood clots, diabetes, rheumatoid arthritis and other conditions – with negotiations expected to save Medicare enrollees billions in out-of-pocket costs.
Merck, Johnson & Johnson and other drugmakers have filed suits in an effort to stop this program approved last year in Biden’s health and climate legislation.
Farxiga
The Centers for Medicare and Medicaid Services announced the first 10 drugs subject to price negotiations, with major drugmakers such as Merck, Johnson & Johnson and Bristol Myers Squibb all participating.
Negotiated prices could save Medicare beneficiaries billions in out-of-pocket expenses, thanks to the Inflation Reduction Act passed last year by both parties in Congress.
Entresto
The Biden administration is working with drug companies to make lifesaving medications more cost-effective and has begun negotiations on 10 medications from Medicare Part D’s blood thinners and diabetes medicines list such as Eliquis, Xarelto, Januvia, Farxiga Entresto as well as NovoLog and Fiasp insulins.
Last year’s Inflation Reduction Act gave Medicare authority to negotiate lower prices for certain prescription medicines and reduce out-of-pocket costs for millions of seniors while saving taxpayers billions.
Enbrel
The administration is issuing its inaugural offers to drugmakers in an historic round of Medicare price negotiations, hoping to make life-saving drugs more affordable for people on Medicare.
Last year, 9 million Medicare enrollees spent $3.4 billion out-of-pocket for 10 drugs selected for negotiation – this included conditions such as blood clots, heart failure, diabetes and rheumatoid arthritis.
Imbruvica
Ibrutinib is a cancer drug commonly prescribed to treat lymphoma and leukemia. Additionally, it’s also used to manage chronic graft-versus-host disease (cGVHD) after stem cell transplant.
One drug from among ten chosen for negotiations could save Medicare and its enrollees billions over 10 years, although several drugmakers and industry groups have filed suits to halt this process.
Stelara
Medicare now has the authority to negotiate lower prices with drugmakers for 10 of the most costly drugs, including blood thinners and diabetes medications from Merck and Johnson & Johnson.
People on Medicare will save money thanks to a new policy that reduces out-of-pocket expenses and makes lifesaving medicines more accessible. Drug negotiations form part of an effort by Congress to lower American costs.
Fiasp
JDRF Australia is delighted that Novo Nordisk’s fast-acting insulin Fiasp will remain available under the Pharmaceutical Benefits Scheme from October 1.
Medicare will now negotiate lower prices for 10 popular high-cost drugs, cutting out-of-pocket costs for 9 million enrollees and saving taxpayers billions. These drugs include stroke/blood clot medications such as Eliquis and Xarelto; diabetes medications Jardiance, Januvia and NovoLog; Entresto for heart disease treatment; as well as Enbrel and Imbruvica to treat arthritis or autoimmune conditions.
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