The Biden administration has announced that Medicare beneficiaries are projected to save approximately $1.5 billion on their out-of-pocket expenses for medications designed to treat various conditions like diabetes, heart disease, arthritis, and more. These savings come as a result of new pricing agreements reached with pharmaceutical companies, set to go into effect in 2026.
The cost reductions on a range of medications include a 79% drop for Januvia, a diabetes management drug, and a 38% reduction for Imbruvica, used in the treatment of blood cancers. It is important to note that these figures reflect the negotiated prices before any discounts or rebates are factored in, not the final amount individuals pay when obtaining their prescriptions.
Here is a breakdown of some of the medications and their negotiated prices:
– Januvia, manufactured by Merck Sharp Dohme for diabetes, is set at $113 for a 30-day supply, a 79% reduction.
– Fiasp, NovoLog, and other diabetes medications from Novo Nordisk have a negotiated price of $119 for a 30-day supply, marking a 76% decrease.
– AstraZeneca AB’s Farxiga, used for diabetes, heart failure, and chronic kidney disease, will cost $178.50 for a 30-day supply, showing a 68% reduction.
– Immunex Corp.’s Enbrel, for rheumatoid arthritis and skin conditions, will be priced at $2,355 for a 30-day supply, a 67% decrease.
– Boehringer Ingelheim’s Jardiance for diabetes, heart failure, and kidney disease will be priced at $197 for a 30-day supply, reflecting a 66% reduction.
– Janssen Biotech Inc.’s Stelara, used for skin conditions and gastrointestinal diseases, will cost $4,695 for a 30-day supply, with a 66% reduction.
– Xarelto by Janssen Pharms, for blood clot prevention and treatment, will have a negotiated price of $197 for a 30-day supply, showing a 62% reduction.
– Bristol Myers Squibb’s Eliquis, also for blood clots, will be priced at $231 for a 30-day supply, a 56% reduction.
– Novartis Pharms Corp’s Entresto, for heart failure, will cost $295 for a 30-day supply, reflecting a 53% reduction.
– Imbruvica by Pharmacyclics LLC, for blood cancers, will have a negotiated price of $9,319 for a 30-day supply, representing a 38% reduction in cost.
