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Last year, Medicare reached agreements to lower prices on the 10 costliest drugs, including Eliquis, a blood thinner; Imbruvica, a blood cancer treatment; and NovoLog, a diabetes medication.
The list price on Merck's diabetes drug Janumet increased 293% since it hit the market in 2007, the largest increase among all 25 drugs, according to the report.
The median price increase of the drugs being hiked Jan. 1 is 4.5%, which is in line with the median for all price increases last year. Drugmakers to raise US prices on over 250 medicines starting ...
The results of the negotiations were announced in August 2024, and Medicare's negotiated price for a 30-day supply of Eliquis is $231, a 56% decrease from the 2023 list price of $521. [42] The pricing is set to take effect in 2026. [43] [44]
The process will begin again in February of 2025, when CMS selects another 15 costly prescription drugs for negotiations, with new prices on those going into effect in 2027.
The Biden administration selected 10 prescription medicines for unprecedented price negotiations by the Medicare health program for older Americans that covers 66 million people. Blood thinner ...