Medicare to negotiate drug prices with producers

President Joe Biden speaks
President Joe Biden.
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The U.S. Department of Health and Human Services on Tuesday listed 10 medications eligible for Medicare to negotiate the price negotiations with producers.

The change comes under a law included in President Biden’s Inflation Reduction Act meant to make medication more financially accessible to the elderly. Biden has said lower drug prices will cut Medicare spending.

Republicans have not supported the change, arguing that Medicare negotiating drug prices with private suppliers amounts to government-set pricing. Pharmaceutical manufacturers have begun lawsuits to block the process. Negotiations may begin this year, but new prices will not apply until 2026.

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What drugs will have negotiable prices? HHS announced the first 10 medications eligible for negotiation Tuesday morning. The list includes blood thinners Eliquis and Xeralto and diabetes medications Jardiance, Januvia, Fiasp, NovoLog, and Farxiga. Officials included the blood cancer treatment Imbruvica, Crohn’s disease drug Stelara, heart drug Entresto, and autoimmune drug Enbrel.

Another 15 drugs may be selected for negotiation in 2027.

This story originally appeared in WORLD. © 2023, reprinted with permission. All rights reserved.

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