The Biden administration has revealed the first 10 medications that will be subject to price negotiations between manufacturers and Medicare under the Inflation Reduction Act, according to an Aug. 29 report from CNBC.
The act, which passed last year, gives Medicare the power to negotiate drug prices with manufacturers for the first time in nearly 60 years. The agreed-upon prices for the first round of drugs are scheduled to go into effect in 2026.
The act has not gone without controversy, with drugmaker Merck filing a lawsuit against Health and Human Services Secretary Xavier Becerra in a federal court, alleging the new policies are "tantamount to extortion."
The first 10 drugs subject to price negotiations include:
- Eliquis, made by Bristol-Myers Squibb
- Jardiance, made by Boehringer Ingelheim
- Xarelto, made by Johnson & Johnson
- Januvia, made by Merck
- Farxiga, made by AstraZeneca
- Entresto, made by Novartis
- Enbrel, made by Amgen
- Imbruvica, made by AbbVie
- Stelara, made by Janssen
- Fiasp and NovoLog, made by Novo Nordisk