The Biden administration has today taken a significant step towards addressing the affordability of prescription drugs for older Americans.
Recent changes to the Medicare bill allow Medicare to engage in direct price negotiations with pharmaceutical manufacturers.
Scheduled to be implemented in 2026, the prices agreed upon during these negotiations will apply to the initial set of 10 prescription drugs. The aim is to alleviate the financial burden associated with expensive medications and promote accessibility for the elderly.
Here is the list of the 10 drugs that will be subject to the initial negotiations this year:
- Eliquis by Bristol-Myers Squibb (NYSE:BMY);
- Jardiance by Boehringer Ingelheim;
- Xarelto by Johnson & Johnson (NYSE:JNJ);
- Januvia by Merck (NYSE:MRK);
- Farxiga by AstraZeneca (NASDAQ:AZN);
- Entresto by Novartis (NYSE:NVS);
- Enbrel by Amgen (NASDAQ:AMGN);
- Imbruvica by AbbVie (NYSE:ABBV);
- Stelara by Janssen (owned by JNJ); and
- Fiasp, Fiasp FlexTouch, Fiasp PenFill, NovoLog, NovoLog FlexPen, NovoLog PenFill by Novo Nordisk (NYSE:NVO).