Under the Inflation Reduction Act of 2022, Medicare negotiated drug prices for the first time.
These discussions began in early 2024. In August, negotiations were finalized with a successful agreement to change the price on ten common, life-saving drugs used to treat serious health conditions.
Here are the names and numbers for each one.
Januvia
Medicare negotiated a successful 79% reduction for the drug Januvia, which is used to treat diabetes.
Januvia’s prices are the largest cut of all the medications that are part of the negotiation, going from over $525 to $113 per month when the new pricing schedule takes effect.
Over 800,000 Medicare members use the drug.
Farxiga
AstraZeneca’s Farxiga is a prescription used to treat diabetes, heart failure, and chronic kidney disease.
Medicare negotiated a change from around $560 to $178 a month — a 68% decrease. Nearly 1 million Americans on Medicare use this drug.
Enbrel
The Enbrel drug used for rheumatoid arthritis and psoriasis was negotiated down 67%, benefiting the 48,000 Medicare patients who are using the drug.
Jardiance
Jardiance from Boehringer Ingelheim also recieved a 66% reduction. It is used for diabetes, along with heart failure and kidney disease.
Stelara
Stelara, from Janssen Biotech, is another drug used for psoriasis, as well as Crohn’s disease and ulcerative colitis.
Used by 23,000 Medicare enrollees, the drug got a 66% reduction, from around $13,000 to $4,600 for a 30-day supply.
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Xarelto
A well-known drug, Xarelto (also from Janssen) is a common treatment for blood clots.
Medicare negotiated a 62% reduction on behalf of 1.3 million American users on Medicare.
Eliquis
Eliquis, produced by Bristol Myers Squibb, is another blood clot medication used by over 3.9 million Medicare patients — by far the most of any other medication on the list.
The deal negotiated a 56% price reduction — from around $520 per month to $230 — for a 30-day supply.
Entresto
Medicare negotiated down from $628 per month to $295 per month for a drug called Entresto that treats heart failure.
More than 650,000 patient enrolled in Medicare were prescribed Entresto in 2023.
Imbruvica
A drug called Imbruvica used for treating blood cancer is used by 17,000 Medicare members got a 38% price reduction.
Imburvica is, by, far most expensive medication on the list, which may be why the Biden Administration gunned for it despite a relatively small number of people needing the medication in 2023.
In 2023, the average cost for a 30-day supply of Imbruvica was nearly $15,000 a month. Under the revised terms, the monthly expense will drop to just over $9,300, which is still pricey but certainly an improvement.
Novo Nordisk Drugs – Various
A variety of drugs from Novo Nordisk got a 76% reduction for drugs used by 785,000 people on Medicare.
These are also diabetes drugs, and for reference, the negotiations, has brought per-month prices down from around $500 to around $120.
A Historic Deal
These numbers show the effectiveness of the program that tackles problems with cost and Medicare part D prescription drug coverage.
It was the issue Biden pressed forward on most aggressively after announcing his resignation from the 2024 presidential race.
The new prices will go into effect January 2026.
You can see the full list of drugs included in the historic deal here.
