Lower drug prices for Medicare patients to save $6 billion

PIRG was invited to join President Biden and Vice President Harris today when they announced new negotiated prices for ten costly and widely-used prescription medications which will save patients and the Medicare program at least $6 billion a year. On the second anniversary of the Inflation Reduction Act, the Administration released the predicted savings for 8.8 million older Americans who take certain medications to treat diabetes, psoriasis, heart failure, certain blood cancers, and other conditions. The new lower prices go into effect in 2026 for these medications: 

1. Eliquis
2. Jardiance
3. Xarelto
4. Januvia
5. Farxiga
6. Entresto
7. Enbrel
8. Imbruvica
9. Stelara
10. Fiasp and NovoLog products

PIRG has been active in pushing for solutions to the high prices of health care – including winning the right to negotiate better prices for prescription drugs. 

Patricia Kelmar, U.S. PIRG’s health care campaigns director, is celebrating.

“For years, the powerful drug industry lobby had successfully prevented drug price negotiation by Medicare, the largest purchaser of medications which is funded by our tax dollars.”

Two years ago, after much advocacy from PIRG and others, Congress and the President heeded the call of patients to stop paying whatever the drug companies charged. Drug prices are out of control. 

Kelmar added, “It’s a huge win to negotiate new lower prices for common pricey medications that allow people to live productive, healthy lives.”

Drug price negotiation will continue every year for even more important prescription drugs. PIRG will continue to ensure we are being good stewards of our federal tax dollars through programs such as expanding the power of negotiation to lower prices.