Klobuchar Statement on Price Announcement of the First Ten Prescription Drugs Subject to Medicare Negotiations

Klobuchar has been a leader in the effort to restore Medicare's ability to negotiate lower drug prices

WASHINGTON - U.S. Senator Amy Klobuchar (D-MN) released the following statement on today's announcement of the results of the first round of Medicare price negotiations. These negotiations, which are the result of the end of the nearly 20-year prohibition on Medicare negotiating lower drug prices, made possible after provisions based on Klobuchar's legislation to end the ban were signed into law in 2022.

"Exorbitant prices should never stand between Americans and the life-sustaining medications they need. That is why I worked to end the sweetheart deal that allowed Big Pharma to artificially raise prices at the expense of our seniors. This announcement will save patients and taxpayers billions of dollars and these savings will grow as Medicare negotiates the prices of even more drugs. Seniors won't be the only ones to benefit. These prices will give employers and commercial health plans important information they need to secure savings for Americans with private insurance too. This is a major turning point in our fight to bring down costs," said Klobuchar.

Klobuchar has long led efforts to lower drug prices.

The Empowering Medicare Seniors to Negotiate Drug Prices Act, Klobuchar's bill to end the ban on Medicare negotiating lower prescription drug prices, was signed into law last in 2022 as part of larger legislation. Today's announcement marks a significant milestone in the implementation of this law, and the negotiated prices will take effect in 2026. When these lower prices go into effect, people on Medicare will save $1.5 billion in out-of-pocket costs for their prescription drugs and Medicare will save $6 billion in the first year alone. The Centers for Medicare and Medicaid will publish its list of the next 15 drugs that will be subject to negotiation by February 1, 2025.

Due to this first round of negotiations, these drugs will have the following discount off the 2023 list price:

• 56% lower for Eliquis, which prevents and treats blood clots and was taken by 3,928,000 Medicare Part D enrollees last year;

• 66% lower for Jardiance, which treats diabetes and heart failure and was taken by 1,883,000 Medicare Part D enrollees last year;

• 62% lower for Xarelto, which prevents and treats blood clots and reduces risks for patients with coronary or peripheral artery disease. This drug was taken by 1,324,000 Medicare Part D enrollees last year.

• 79% lower for Januvia, which treats diabetes and was taken by 843,000 Medicare Part D enrollees last year;

• 68% lower for Farxiga, which treats diabetes, heart failure, and chronic kidney disease, and was taken by 994,000 Medicare Part D enrollees last year;

• 53% lower for Entresto, which treats heart failure and was taken by 664,000 Medicare Part D enrollees last year;

• 67% lower for Enbrel, which treats rheumatoid arthritis, psoriasis, and psoriatic arthritis, and was taken by 48,000 Medicare Part D enrollees last year;

• 38% lower for Imbruvica, which treats blood cancers and was taken by 17,000 Medicare Part D enrollees last year;

• 66% lower for Stelara, which treats psoriasis, psoriatic arthritis, Crohn's disease, and Ulcerative Colitis, and was taken by 23,000 Medicare Part D enrollees last year;

• And 76% lower for Fiasp, Fiasp FlexTouch, Fiasp PenFill, Novolog, Novolog Flexpen, and Novolog Penfill which treat diabetes and were taken by 785,000 Medicare Part D enrollees last year.

In April 2023, Klobuchar and Peter Welch (D-VT) introduced the Strengthening Medicare and Reducing Taxpayer (SMART) Prices Act, which would make more drugs eligible for Medicare price negotiations more quickly.

Klobuchar is also leading the fight against big pharma's lawsuits attempting to dismantle Medicare negotiations. In late 2023, Klobuchar and her Senate colleagues filed an amicus brief in Merck & Co. v. Becerra in the District Court for the District of Columbia and another in Boehringer Ingelheim v. United States Department of Health and Human Services in the District Court for the District of Connecticut urging the federal court to uphold the constitutionality of Congress allowing Medicare to negotiate lower drug prices for consumers.

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