By TOM MURPHY, AMANDA SEITZ and CHRIS MEGERIAN
WASHINGTON (AP) — The Biden administration is targeting the blood thinner Eliquis, diabetes treatment Jardiance and eight other medications for Medicare’s first-ever drug price negotiations as it seeks to lower medical costs for Americans.
The administration on Tuesday released a list of the 10 drugs for which prices will be negotiated directly with the manufacturer. The move is expected to cut costs for many patients, but it faces litigation from drugmakers and heavy criticism from Republican lawmakers, and it will be years before consumers notice any savings.
The effort is a centerpiece of President Joe Biden’s reelection pitch as the Democrat seeks to show Americans he’s deserving of a second term because of the work he’s doing to lower costs for them while the country is struggling with inflation. But like the drug negotiations, many of Biden’s biggest policy moves take time to roll out, and his challenge is to persuade the public to be patient.
“For many Americans, the cost of one drug is the difference between life and death, dignity and dependence, hope and fear,” Biden said in a statement. “That is why we will continue the fight to lower healthcare costs — and we will not stop until we finish the job.”
Biden plans to deliver a speech on health care costs from the White House later Tuesday. He’ll be joined by Vice President Kamala Harris.
The drugs on the list announced Tuesday accounted for more than $50 billion in Medicare prescription drug costs between June 1, 2022, and May 31, according to the Centers for Medicare and Medicaid Services, or CMS.
That includes more than $16 billion on Eliquis. The drug from Pfizer and Bristol-Myers Squibb treats blood clots in the legs and lungs and reduces the risk of stroke in people with an irregular heartbeat called atrial fibrillation.
Senior administration officials said Tuesday that the 10 drugs selected for negotiation are among the…
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