29 agos 2023 anni - CNBC: Biden administration unveils first 10 drugs subject to Medicare price negotiations

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HEALTH AND SCIENCE
Biden administration unveils first 10 drugs subject to Medicare price negotiations
PUBLISHED TUE, AUG 29 2023 7:37 AM EDT UPDATED TUE, AUG 29 20234:25 PM EDT
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Annika Kim Constantino
@ANNIKAKIMC

KEY POINTS
The Biden administration unveiled the first 10 prescription drugs that will be subject to price negotiations between manufacturers and Medicare.
The announcement kicks off a controversial process under the Inflation Reduction Act that aims to make costly medications more affordable for older Americans.
The list includes Bristol-Myers Squibb’s blood thinner Eliquis, Johnson & Johnson’s own blood thinner, Novo Nordisk insulin products and Merck’s diabetes drug Januvia.

President Joe Biden’s Inflation Reduction Act, which passed in a party-line vote last year, gave Medicare the power to directly hash out drug prices with manufacturers for the first time in the federal program’s nearly 60-year history. The agreed-upon prices for the first round of drugs are scheduled to go into effect in 2026.

Here are the 10 drugs subject to the initial talks this year:

Eliquis, made by Bristol-Myers Squibb
, is used to prevent blood clotting, to reduce the risk of stroke.
Jardiance, made by Boehringer Ingelheim, is used to lower blood sugar for people with Type 2 diabetes.
Xarelto, made by Johnson & Johnson
, is used to prevent blood clotting, to reduce the risk of stroke.
Januvia, made by Merck
, is used to lower blood sugar for people with Type 2 diabetes.
Farxiga, made by AstraZeneca
, is used to treat Type 2 diabetes.
Entresto, made by Novartis
, is used to treat certain types of heart failure.
Enbrel, made by Amgen
, is used to treat rheumatoid arthritis.
Imbruvica, made by AbbVie
, is used to treat different types of blood cancers.
Stelara, made by Janssen, is used to treat Crohn’s disease.
Fiasp and NovoLog, insulins made by Novo Nordisk
.
The Medicare negotiations are the centerpiece of the Biden administration’s efforts to rein in the rising cost of medications in the U.S. Some Democrats in Congress and consumer advocates have long pushed for the change, as many seniors around the country struggle to afford care.

“Today is the start of a new deal for patients, so big pharma doesn’t just get a blank check at your expense – at the expense of the American people,” Biden said in a speech at the White House on Tuesday. “On my watch, health care should be a right, not a privilege, in this country.”

But the pharmaceutical industry views the process as a threat to its revenue growth, profits and drug innovation. Drugmakers such as Merck and Johnson & Johnson and their supporters aim to derail the negotiations, filing at least eight lawsuits in recent months seeking to declare the policy unconstitutional.

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