8/30/23 - President Names First Drugs For Medicare Negotiation Program

President Biden announces the first 10 drugs to be targets for the price negotiation program between Medicare and pharmaceutical companies.

-President Biden included a plan in the "Inflation Reduction Act"  that would help save money for seniors who need prescription medication. 

He has names the first ten drugs that will be targets for the price negotiation program between Medicare and pharmaceutical companies.  They would cover treatment for things like diabetes, heart failure, blood clots, and certain cancers.

“Today is the start of a new deal for patients, where Big Pharma doesn’t just get a blank check at your expense and at the expense of the American people,” President Joe Biden said at a Tuesday afternoon event at the White House celebrating the unveiling of the list. “Big Pharma is charging Americans more than three times what they charge other countries simply because they could. I think it’s outrageous. That’s why these negotiations matter.”

Medicare's first drug price negotiations will focus on insulin, blood thinners and more. The drugs are:

• Eliquis
• Jardiance
• Xarelto
• Januvia
• Farxiga
• Entresto
• Enbrel
• Imbruvica
• Stelara
• Fiasp; Fiasp FlexTouch; Fiasp PenFill; NovoLog; NovoLog FlexPen; NovoLog PenFill

Once set, the negotiated prices take effect in 2026 – though the drug industry has filed multiple lawsuits seeking to derail the effort.

Up to 9 million seniors will be taking the drugs on the list at that time, according to the White House.