Under the Inflation Reduction Act passed by Democrats in 2022, the government of President Joe Biden and Vice President Kamala Harris achieved the reduction of the price of the first 10 drugs against diabetes, hypertension, cancer and other diseases.
This is a historic agreement that will represent savings of $6 billion for the Medicare system in the first year.
“My Administration is announcing that Medicare has reached agreements on new, lower prices with the manufacturers of the 10 drugs selected for the first round of negotiations,” President Biden said.
The savings, of course, will go directly into the pockets of patients, who could save up to $1.5 billion on prescription drugs, according to the estimate shared by the Biden Administration.
“Today’s announcement will be life-changing for so many of our loved ones across the country, and we won’t stop here,” said Vice President Harris. “This includes up to 15 additional Medicare Part D-covered drugs for negotiation in 2025, up to 15 additional Part B and Part D drugs in 2026, and up to 20 drugs each year after that.”
Health Secretary Xavier Becerra recalled that the vote in Congress for the Inflation Reduction Act required the vote of Vice President Harris.
“Without your vote [de la vicepresidenta] would not have been achieved,” he added.
White House Domestic Policy Advisor Neera Tanden was reminded that this is a historic agreement whose fight has been led by organizations and advocates for a more affordable health system, but she also indicated that no Republican voted in favor of it.
“The president and vice president took on Big Pharma and won. Two years ago, President Biden signed the Inflation Reduction Act with the help of Congressional Democrats and with the vice president casting the tie-breaking vote in the Senate,” she said. “And they did it without the help of Congressional Republicans. Every single one of them voted against it.”
The administrator of the Centers for Medicare and Medicaid Services (CMS), Chiquita Brooks-LaSure, explained that the negotiation was directly with the pharmaceutical companies.
“For the first time, CMS negotiated directly with pharmaceutical companies to get a better deal for Medicare. And we did. We reached agreements on all 10 drugs selected for the inaugural negotiation cycle,” he said.
The first package of medicines
The Biden Administration had announced that the first 10 drugs whose price will be reduced are:
– Eliquis, which helps prevent blood clots.
– Jardiance, which helps with diabetes and heart failure.
– Xareltom, used in the prevention and treatment of blood clots, as well as in reducing the risk for patients with coronary or peripheral arterial disease.
– Januvia, which is against diabetes.
– Farxiga, which helps against diabetes, heart failure and chronic kidney disease.
– Entresto, used against heart failure.
– Enbrel, which is against rheumatoid arthritis, psoriasis, and psoriatic arthritis.
– Imbruvica, which supports against blood cancers.
– Stelara, against psoriatic arthritis, Crohn’s disease and ulcerative colitis.
– Fiasp, Fiasp FlexTouch, Fiasp PenFill, NovoLog, NovoLog FlexPen and NovoLog PenFill, which helps against diabetes.