HHS selects first ten drugs for Medicare price negotiation

The White House announced Tuesday the names of the first 10 prescription drugs selected for Medicare price negotiations as part of the Biden-Harris administration’s Inflation Reduction Act. The medications — which include the blood thinner Eliquis and the rapid-acting insulin Fiasp/Novolog — cost Medicare around $50 billion from June 1, 2022, to May 31, 2023, according to the Centers for Medicare and Medicaid Services, or CMS. Last year, people enrolled in Medicare had to spend $3.4 billion in out-of-cost expenses for those 10 drugs, which are among those with the...