Ten companies manufacturing some of the costliest prescription drugs to participate in first-ever direct negotiations with Medicare. The Biden-Harris Administration announced that all ten drug companies whose drugs were selected for price negotiation with Medicare for the first cycle of the program have decided to participate in those negotiations. These companies manufacture some of the costliest and most commonly used prescription drugs.

These selected drugs accounted for $50.5 billion in total Part D gross covered prescription drug costs, or about 20% of total Part D gross covered prescription drug costs between June 1, 2022, and May 31, 2023, which is the period used to determine which drugs were eligible for negotiation. Medicare enrollees taking the ten drugs covered under Part D selected for negotiation paid $3.4 billion in out-of-pocket costs in 2022 for these drugs.

The ten companies participating in the Medicare Drug Price Negotiation Program Drug NameParticipating Manufacturer:

Eliquis/Bristol Myers Squibb
Jardiance/Boehringer Ingelheim
Xarelto/Janssen Pharms
Januvia/Merck Sharp Dohme
Farxiga/AstraZeneca AB
Entresto/Novartis Pharms Corp
Enbrel/Immunex Corporation
Imbruvica/Pharmacyclics LLC
Stelara/Janssen Biotech, Inc.
Fiasp; Fiasp FlexTouch; Fiasp PenFill; NovoLog; NovoLog FlexPen; NovoLog PenFill/Novo Nordisk Inc.

The landmark Inflation Reduction Act allowed Medicare to negotiate prescription drug prices for the first time. In late August, the U.S. Department of Health and Human Services (HHS) announced the ten drugs covered under Medicare Part D selected for the first negotiation cycle. Drug companies that manufacture these drugs have indicated that they will participate in talks with Medicare during the remainder of 2023 and 2024, and any agreed-upon negotiated prices will become effective beginning in 2026.

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