The Department of Health and Human Services (HHS) has announced that it has successfully negotiated lower prices for 10 of the most expensive and widely used drugs covered under Medicare.
“For the first time ever, Medicare negotiated directly with drug companies and the American people are better off for it,” HHS Secretary Xavier Becerra said in an Aug. 15 statement, adding that the new prices, set to take effect in 2026, are expected to save the Medicare program $6 billion in the first year and reduce out-of-pocket costs for Medicare beneficiaries by $1.5 billion.
The selected drugs, which include blood thinners including Eliquis and Xarelto, diabetes medications such as Jardiance and Januvia, and treatments for heart failure and autoimmune diseases, accounted for $56.2 billion in Medicare spending in 2023 alone, per a CMS fact sheet….