Ozempic, Wegovy are among the drugs subject to Medicare price controls

Highly desirable Diabetes medications associated with weight loss Drugs produced by the Danish pharmaceutical company Novo Nordisk are among those that will be subject to price control by Medicare.

The Centers for Medicare and Medicaid Services (CMS) on Friday released the second list of prescription drugs covered under Medicare Part D. The list includes 15 drugs, which is described as an attempt to help ease the financial burden on millions of patients aged 65 years. And the elderly.

It includes weight loss and diabetes medications from Novo Nordisk Wijovi and OzimbekIn addition to Xtandi, Ibrance, Calquence, and Pomalyst, which treat prostate, breast, blood, and bone marrow cancers. Price control of newly selected medicines will become effective in 2027.

OALITION calls on Congress to repeal Biden’s prescription drug price controls

under Inflation Reduction Act (IRA), Signed into law in 2022, Medicare was given the authority to set lower prices for select high-spending covered drugs.

While the IRA refers to “negotiation,” the text of the legislation allows CMS to set a “maximum fair price” for a drug. The drug company must then “enter into agreement” on the price. If they do not, the government will impose a daily tax on every drug sold above the “maximum fair price.”

The move has faced criticism from drugmakers, including Novo Nordisk, which told FOX Business that it “remains opposed to government price setting through the IRA and has significant concerns about how the law will be implemented by this administration, including the bundling of many… Products that would be individualized.” “Does not meet the requirements of the law.”

The company believes that price-setting could “negatively impact patients’ ability to access their medicines and threaten to stifle future scientific development of life-changing medicines for chronic diseases for which there is a real unmet need.”

In October 2023, shortly after the first 10 drugs were announced, a coalition of more than 40 groups called on Congress to eliminate the IRA’s drug price negotiation program, arguing that the price control scheme it runs Biden administration It will eventually lead to shortages and higher costs of medicines.

The coalition of more than 40 groups sent a letter to federal lawmakers shortly after the Biden administration released their first list of 10 drugs, which included Merck’s diabetes drug Januvia, Johnson & Johnson’s blood-thinning drug Xarelto, as well as a… Blood from Pfizer and Bristol-Myers Squibb. Eliquis, in August 2023.

Biden official names first 10 drugs subject to Medicare price negotiation

According to the administration, about 5.3 million Medicare Part D recipients used newly selected drugs for conditions such as cancer, type 2 diabetes and asthma between November 2023 and October 2024. During that period, the drugs accounted for about $41 billion, or 14%. , of total Medicare Part D prescription costs.

“Last year we demonstrated that negotiating lower drug prices works. Now we plan to build on that record by negotiating lower drug prices. 15 additional important medications Health and Human Services Secretary Xavier Becerra told seniors.

Becerra said the agency “will continue to negotiate in the best interest of people with Medicare for innovative, life-saving treatments at lower costs.”

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Below is the list of drugs selected for the second round of negotiations:

• Ozimbek. Repulsus. And goofy
• Trilogy Ellipta
• xtandi
• Slow down
• Ibrance
• Oviev
• Linzis
• Calcoins
• Austedo. Austedo XR
• Brio Ellipta
• tradition
• Shivaxan
• Fry
• Janumet. Janumet XR
• Otezla