Biden Administration Reveals First 10 Drugs For Medicare Price Negotiation
The federal government just identified the first 10 medications that will be subject to direct price negotiations with manufacturers, as part of a major new initiative to reduce prescription drug costs in Medicare.
The list includes a pair of widely used blood thinners, Eliquis and Xarelto, as well as the cancer therapy Imbruvica. It also includes Farxiga, Jardiance and Januvia, all of which treat diabetes.
All told, the 10 drugs on the list accounted for $50.5 billion in total spending in Medicare’s outpatient prescription drug program for the period between June 1, 2022, and May 31, 2023, according to the Department of Health and Human Services. That’s...