President Biden announced Tuesday the 10 medications that his administration will include in the next drug price negotiation for those covered under Medicare Part D.
The drugs are Eliquis, Jardiance, Xarelto, Januvia, Farxiga, Entresto, Enbrel, Imbruvica, Stelara and Fiasp, the White House said — adding that the price negotiations are the first move in a new effort to lower the costs of dozens of other drugs over the next couple of years.
"No senior should have to overpay for life-saving drugs to pad Big Pharma’s pockets," Biden said on X, formerly known as Twitter. "My Administration is announcing the first 10 Medicare Part D drugs selected for price negotiation."
He added, "We're ending the days of deciding between buying your medicine or putting food on the table."
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In the announcement, the White House said the 10 drugs are "among those with highest total spending in Medicare Part D," as they are used to help treat diabetes, heart failure, psoriasis, blood cancers, Crohn’s disease and other health conditions.
"Today, the Biden-Harris Administration is delivering on another significant milestone in implementing President Biden’s historic law to lower health care and prescription drug costs and ushering in a new era for American seniors. Over the next 4 years, Medicare will negotiate prices for up to 60 drugs covered under Medicare Part D and Part B, and up to an additional 20 drugs every year after that," the announcement added.
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"Millions of Part D enrollees depend on these vital treatments to treat life-threatening conditions including diabetes, heart failure, and cancer, but many struggle to access their medications because of prohibitive costs," the White House continued.
"Medicare drug price negotiation will result in lower out-of-pocket costs for seniors and will save money for American taxpayers," the White House added. "Negotiations for the first group of selected drugs will begin in 2023, with negotiated prices going into effect in 2026."
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It also provided the average price of the drugs, including:
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The cost reduction comes as the Biden administration previously capped insulin costs at $35 per month for seniors and others on Medicare with diabetes.
