Akron Reporter

AKRON, OH — U.S. Representative Emilia Sykes (OH-13) issued a statement today after the U.S. Department of Health and Human Services (HHS), through the Centers for Medicare & Medicaid Services (CMS), announced the first 10 drugs covered under Medicare Part D selected for price negotiation. For the first time ever, thanks to the Inflation Reduction Act – the historic law lowering health care costs – Medicare can negotiate the prices of prescription drugs. The negotiations with participating drug companies will occur in 2023 and 2024, and any negotiated prices will become effective beginning in 2026.

Medicare enrollees taking the 10 drugs covered under Part D selected for negotiation paid a total of $3.4 billion in out-of-pocket costs in 2022 for these drugs.

“Once again, the historic Inflation Reduction Act is delivering real results for the people of Ohio’s 13th District,” said Rep. Sykes. “Allowing Medicare to negotiate prescription drug prices cracks down on corporate greed and ensures seniors aren’t forced to choose between putting food on the table or buying life-saving drugs. Equitable access to life-saving medications is critical to improving our healthcare systems, and I will continue to put people over politics and support commonsense policies like these to lower costs and put more money back into your pockets.”

The selected drug list for the first round of negotiation is:

• Eliquis
• Jardiance
• Xarelto
• Januvia
• Farxiga
• Entresto
• Enbrel
• Imbruvica
• Stelara
• Fiasp; Fiasp FlexTouch; Fiasp PenFill; NovoLog; NovoLog FlexPen; NovoLog PenFill

These selected drugs accounted for $50.5 billion in total Part D gross covered prescription drug costs, or about 20 percent, of total Part D gross covered prescription drug costs between June 1, 2022 and May 31, 2023, which is the time period used to determine which drugs were eligible for negotiation.

Allowing Medicare to negotiate the prices of these 10 prescription drugs will result in lower health care costs for the approximately 95,440 Medicare beneficiaries in Ohio’s 13th Congressional District.

Original source can be found here.