A negotiation between Medicare and drug companies will lower prescription costs for users of the federal health insurance program come 2026.
The Biden-Harris administration announced on Thursday an agreement to lower prices for 10 drugs that are some of the most expensive and common in the Medicare program.
Medicare drug price discounts agreed range from 38% to 79% off list prices, according to the US Department of Health and Human Services.
The federal agency estimates Medicare would have saved $6bn (£4.7bn) if the new prices for the 10 drugs were in effect last year.
Here’s what to know about the negotiated drugs:
What are the 10 drugs negotiated by Medicare?
The negotiated prices will go into effect for those with Medicare prescription drug coverage on 1 Jan. 2026.
Here are the 10 drugs and their negotiated prices for a one-month supply:
- Januvia treats diabetes. The negotiated price is $113 (£103), down 79%.
- Fiasp, Fiasp FlexTouch, Fiasp PenFill, NovoLog, NovoLog FlexPen, NovoLog PenFill: These drugs, which are insulin medications, treat diabetes. The negotiated price is $119, down 76%.
- Farxiga treats diabetes, heart failure and chronic kidney disease. The negotiated price is $178.50, down 68 %.
- Enbrel treats rheumatoid arthritis, psoriasis and psoriatic arthritis. The negotiated price is $2,355, down 67%.
- Jardiance treats diabetes, heart failure and chronic kidney disease. The negotiated price is $197, down 66%.
- Stelara treats psoriasis, psoriatic arthritis, Crohn’s disease and ulcerative colitis. The negotiated price is $4,695, down 66%.
- Xarelto prevents and treats blood clots and reduces risk of coronary or peripheral artery disease. The negotiated price is $197, down 62%.
- Eliquis prevents and treats blood clots. The negotiated price is $23, down 56%.
- Entresto treats heart failure. The negotiated price is $628, down 53%.
- Imbruvica treats blood cancers. The negotiated price is $9,319, down 38%.
How many users will see lowered prices?
Around nine million people with Medicare’s drug prescription plan use at least one of the 10 drugs negotiated, according to the US Department of Health and Human Services.
Some of the drugs – including Eliquis, Xarelto and Jardiance – saw over one million Medicare enrolees file prescriptions for the medications in 2022.
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