Drugs to treat diabetes, heart disease & blood cancers among those affected by price negotiations

15 Aug at 10:40 am

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The Biden administration says Medicare recipients will save about $1.5 billion on out-of-pocket costs for medications to treat diabetes, heart disease, types of arthritis and other ailments under new prices negotiated with drug companies that will take effect in 2026.

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The Biden administration announced that Medicare recipients will save about $1.5 billion on out-of-pocket costs for medications to treat diabetes, heart disease, arthritis, and blood cancers under new prices negotiated with drug companies, effective in 2026.
Price reductions include a 79% decrease for Januvia (diabetes), 68% for Farxiga (diabetes, heart failure, chronic kidney disease), and 67% for Enbrel (rheumatoid arthritis, psoriasis).
The new negotiated prices will significantly lower the cost of other essential drugs like Jardiance, Stelara, Xarelto, and Eliquis, benefiting millions of Medicare recipients.
The savings represent the reduction before any discounts or rebates and reflect the efforts to make critical medications more affordable for older Americans.
The new prices and savings range from $113 for Januvia to $9,319 for Imbruvica, marking a major shift in Medicare’s approach to prescription drug costs.

The Associated Press has the story:

Drugs to treat diabetes, heart disease & blood cancers among those affected by price negotiations

Newslooks- (AP)

President Joe Biden speaks at the White House Creator Economy Conference in the Indian Treaty Room at the Eisenhower Executive Office Building on the White House complex, Wednesday, Aug. 14, 2024, in Washington. (AP Photo/Mark Schiefelbein)

The savings range from 79% for Januvia, used to manage diabetes, to 38% for Imbruvica, which is used to treat blood cancers. That is the medication’s cost before any discounts or rebates are applied, but not what the price people actually pay when filling their prescriptions.

A look at the drugs and the negotiated prices.