Medicare costs lowered for 10 drugs, including diabetes prescriptions
The Biden administration said Thursday that it had reached an agreement with drugmakers to lower prices on the 10 costliest prescription drugs under Medicare.
The Biden administration said Thursday that it had reached an agreement with drugmakers to lower prices on the 10 costliest prescription drugs under Medicare.
It's part of the federal government's first-ever drug pricing negotiations, a cost reduction it claims could help ease the financial burden on the estimated 1 in 7 older adults in the U.S. struggling to pay for their medications.
Here are the negotiated prices for the drugs, based on a 30-day supply:
The new negotiated prices were compared to the 2023 list prices of the drugs.
It's important to note that these numbers do not represent a direct comparison between the new negotiated prices and what Medicare and enrollees would have originally paid, said Stacie Dusetzina, a health policy professor at Vanderbilt University in Nashville, Tennessee. The list price is the full retail price of a medication and doesn't include any discounts or rebates a drug company may have offered.
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