Medicare drug price negotiations start after Biden administration makes initial offers

[BumRushDaShow]

Source: CNN Politics

Published 5:00 AM EST, Thu February 1, 2024


CNN — Let the negotiating begin! The Biden administration is sending its initial offers to the drugmakers participating in the historic first round of Medicare drug price negotiations on Thursday.

The move kicks off six months of discussions between the manufacturers and the Centers for Medicare and Medicaid Services. It comes as President Joe Biden is seeking to tout his efforts to lower drug prices ahead of the November presidential election and as the pharmaceutical companies attempt to halt the negotiation process in court.

“For the first time in history, Medicare is making offers on the fair price for 10 of the most widely used and expensive drugs,” Biden said in a statement. “Medicare is no longer taking whatever prices for these drugs that the pharmaceutical companies demand.” Negotiations will take place between now and August 1. The agreed-upon maximum fair prices will be made public by September 1 and take effect in 2026.

The first 10 drugs are Eliquis, Jardiance, Xarelto, Januvia, Farxiga, Entresto, Enbrel, Imbruvica and Stelara, as well as Fiasp and certain other insulins made by Novo Nordisk, including NovoLog. The medications, which treat heart disease, certain cancers, diabetes and autoimmune diseases, among other conditions, cost Medicare $46.5 billion and enrollees $3.4 billion in out-of-pocket costs in 2022.

Read more: https://www.cnn.com/2024/02/01/politics/medicare-drug-price-negotiations-initial-offers/index.html

[jpak]

1. Go Joe!

And fuck Big Pharm, the GOP, and all greedy sleaze bags that stuffed Big Pharm cash into their pockets rather than into healthcare for their constituents.

Hope those crooks get the treatment they earned.

Yup

[dalton99a]

2. Kick

[PennRalphie]

3. Eliquis patent was set to expire

But the courts in 2021 allowed the patent to continue till 2026. Eliquis is ridiculously expensive, I have relatives taking it. There’s already an approved generic.

This will help those on Medicare for sure, but for the others, this ruling needs to be reversed. Allow the generic now.

[jaxexpat]

4. Among he greatest breaks from the past for which....

Joe can, and should, take credit. Biden's second term will rival/surpass that of LBJ, wih restoration of sanity to a troubled society, the beneficial byproduct.