Negotiation will lower price of drugs taken by tens of thousands of Washington state patients
Washington, D.C. – Today, U.S. Senator Patty Murray (D-WA), a senior member and former Chair of the Senate health committee, released the following statement on the Biden Administration’s announcement of the first ten drugs that Medicare will negotiate lower prices for under the new authority it was given when Democrats passed the Inflation Reduction Act. The eventual negotiated price for the drugs will go into effect for patients in 2026.
“I fought long and hard to get Medicare negotiation across the finish line, because I know how many families are struggling with high drug costs, and how enormously this policy will help. So many seniors across the country are already saving big thanks to the $35 insulin price cap we passed in the Inflation Reduction Act, and millions more will save thousands in coming years now that Medicare can force drug companies to the negotiating table. Negotiations for these ten drugs are going to be lifechanging for so many people—including tens of thousands of patients in Washington state with diabetes, heart disease, arthritis, and other serious conditions,” said Senator Murray.
“There is more we must do to stop drug companies from jacking up prices and to make sure patients can get the care they need—but this is serious progress and I am going to keep pushing to build on this momentum,” Senator Murray continued.
Yesterday, the Centers for Medicare and Medicaid Services announced the first 10 drugs selected for Medicare Price Negotiation: Eliquis, Jardiance, Xarelto, Januvia, Farxiga, Entresto, Enbrel, Imbruvica, Stelara, and NovoLog. Nine million U.S. seniors took these drugs in 2022, accounting for $3.4 billion in out-of-pocket costs for Medicare beneficiaries.
In Washington state alone, the estimated number of Medicare Part D Enrollees who will see their prescription drug costs lowered, based on analysis by the HHS Office of the Assistant Secretary for Planning and Evaluation (ASPE), include:
- 58,000 who take Eliquis;
- 26,000 who take Jardiance;
- 27,000 who take Xarelto;
- 11,000 who take NovoLog;
- 9,000 who take Januvia;
- 6,000 who take Farxiga ;
- 6,000 who take Entresto;
- and 1,000 who take Enbrel.
The average out-of-pocket costs for these drugs for Washington state Medicare enrollees in 2022 was:
- $568 for patients taking Eliquis;
- $348 for patients taking Jardiance;
- $555 for patients taking Xarelto;
- $149 for patients taking NovoLog;
- $321 for patients taking Januvia;
- $346 for patients taking Farxiga ;
- $449 for patients taking Entresto;
- $1,341 for patients taking Enbrel;
- $6,113 for patients taking Imbruvica;
- and $1,956 for patients taking Stelara.
Senator Murray has been a steadfast champion to lower drug costs and has pushed for years to give Medicare the power to negotiate lower prices for patients—which Democrats succeeded in passing into law as part of the Inflation Reduction Act.
For more information, see the ASPE fact sheet HERE.
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