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Check out the list of 15 new drugs under price negotiations by Medicare


The Biden administration has released a list of 15 prescription drugs, including popular medications like Ozempic and Wegovy, that will undergo price negotiations with Medicare. These negotiations, mandated by the Inflation Reduction Act of 2022, aim to lower the cost of these drugs for beneficiaries. The new negotiated prices will not take effect until 2027. The government faces pressure to secure a good deal, as a survey shows that the public wants more drugs subject to negotiations.

The drugs selected for negotiations cover a range of conditions, including diabetes, cancer, asthma, and gastrointestinal issues. Ozempic, a drug used for diabetes and weight loss, is particularly in high demand. The cost to taxpayers is expected to increase as Medicare begins to cover these drugs for additional FDA-approved uses.

The drugmakers have the option to agree to participate in the negotiations or face tax penalties. Novo Nordisk, the manufacturer of Ozempic and Wegovy, remains opposed to the negotiations but is open to working with the administration to find solutions for patients. The total spending on the 15 drugs accounted for a significant portion of Medicare Part D spending.

Overall, the negotiations have the potential to save Medicare billions of dollars in the coming years. Last year, Medicare successfully negotiated lower prices for 10 costly drugs, with new prices set to take effect in 2026. Experts believe that including drugs like Ozempic in these negotiations could have significant budget implications and impact premium costs for beneficiaries and taxpayers. Despite industry opposition, the negotiations continue in an effort to make prescription drugs more affordable for Americans.

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www.nbcnews.com

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