First 10 Drugs for Medicare Price Negotiations Revealed by Biden Administration

First 10 Drugs for Medicare Price Negotiations , Revealed by Biden Administration.
First 10 Drugs for Medicare Price Negotiations , Revealed by Biden Administration.
The federal government made the announcement on Aug. 29, Politico reports. .
Because of the [Inflation Reduction Act], Medicare finally has the power to negotiate lower drug prices for American seniors — something leaders have tried for decades to
do but failed, until President Biden and Congressional Democrats finally got it done, White House official, via Politico.
The first 10 drugs subject to
price negotiations are:.
• AbbVie/Johnson &
Johnson’s Imbruvica
• Amgen’s Enbrel
• AstraZeneca’s Farxiga
• Bristol-Myers Squibb’s Eliquis
• Eli Lilly/Boehringer Ingelheim’s Jardiance.
• Johnson & Johnson’s Stelara
• Johnson & Johnson’s Xarelto
• Merck’s Januvia
• Novartis’ Entresto
• Novo Nordisk’s Fiasp; Fiasp FlexTouch; Fiasp PenFill;
NovoLog; NovoLog FlexPen; and NovoLog PenFill.
Drugmakers have 30 days to
agree to engage in negotiations.
If they fail to do so, they will be hit
with steep excise taxes.
They can also choose to withdraw
their drugs from Medicare coverage. .
Politico reports that there are several pending lawsuits filed by drug companies and trade groups, alleging that the drug price negotiation program violates the First, Fifth and Eighth Amendments. .
But others, such as AARP, have
applauded the historical policy. .
For too long, big drug companies have fleeced our country and padded their profits by setting outrageous prices, all at the expense of American lives. The number one reason seniors skip or ration their prescriptions is because they can’t afford them. This must stop, Nancy LeaMond, AARP Chief Advocacy and Engagement Officer, via Politico