U.S. Sets Talks To Cut Medicare Drug Prices

Popular diabetes treatment Jardiance and the blood thinner Eliquis are among the first drugs that will be targeted for price negotiations in an effort to cut Medicare costs, Tom Murphy, Amanda Seitz and Chris Megerian reported for the Associated Press (AP).

Medicare spent about $10 billion in 2020 on blood thinner Eliquis. I Photo: Pfizer Taiwan

President Joe Biden’s administration on Tuesday released a list of 10 drugs for which the federal government will take a first-ever step: negotiating drug prices directly with the manufacturer.

The move is expected to cut costs for some patients but faces litigation from the drugmakers and heavy criticism from Republican lawmakers.

It’s also a centerpiece of the Democratic president’s reelection pitch as he seeks a second term in office by touting his work to lower costs for Americans at a time when the country has struggled with inflation.

The diabetes treatment Jardiance from Eli Lilly and Co. is on the list with Amgen’s autoimmune disease treatment Enbrel. Other drugs include Entresto from Novartis, which is used to treat heart failure.

Medicare spent about $10 billion in 2020 on Eliquis, according to AARP research.

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