The Centers for Medicare and Medicaid Services (CMS) early Tuesday announced the first 10 drugs chosen for Medicare price negotiation under the Inflation Reduction Act (IRA). These single-source dr…

The Centers for Medicare and Medicaid Services (CMS) early Tuesday announced the first 10 drugs chosen for Medicare price negotiation under the Inflation Reduction Act (IRA).

These single-source drugs were chosen based on their eligibility under the IRA and are the “highest total Part D gross covered prescription drug costs” under Medicare Part D, according to the CMS. In total, these medications account for $50.5 billion in total gross Part D costs.

Negotiations over these drugs, if manufacturers agree to the process, will take place over 2023 and 2024. Drugmakers have until Oct. 1 to sign agreements.

  • MicroWave@lemmy.worldOPEnglish
    20·
    1 year ago

    Here’s a better formatted list from another article:

    • 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.

    Source: https://www.cnbc.com/2023/08/29/10-drugs-to-face-medicare-price-negotiations-see-the-list.html

  • AutoTL;DR@lemmings.worldBEnglish
    5·
    1 year ago

    This is the best summary I could come up with:

    President Biden is expected to give a speech Tuesday to mark the selection of these drugs.

    “For far too long, Americans have paid more for prescription drugs than any major economy,” Biden said in a statement.

    “Today, my Administration announced the first 10 Medicare Part D drugs that have been selected for price negotiation — for the first time ever,” Biden continued.

    “They are among the most common and costly prescriptions that treat everything from heart failure, blood clots, diabetes, arthritis, Crohn’s disease — and more.

    This is on top of progress we made in reducing the cost of insulin to $35 a month for seniors on Medicare.”

    Lauding the plan as a “key part of Bidenomics,” Biden also noted that he was “not backing down” in light of the lawsuits that have been filed against Medicare drug price negotiation.

    The original article contains 395 words, the summary contains 140 words. Saved 65%. I’m a bot and I’m open source!