Senator Baldwin Applauds Announcement of 15 More Prescription Drugs to be Negotiated for Lower Prices

WASHINGTON, D.C – Today, U.S. Senator Tammy Baldwin (D-WI) applauded the U.S. Department of Health and Human Services’ (HHS) announcement that 15 additional drugs covered under Medicare have been selected for price negotiations, including drugs to treat a variety of conditions, such as cancer, type 2 diabetes, and asthma. The Baldwin-backed Inflation Reduction Act empowered Medicare to negotiate lower prescription drug prices for the first time ever and, last week, the outgoing Biden administration announced the next 15 drugs under those negotiations.

“I’m committed to bringing costs down for Wisconsin families and high on that list is tackling the soaring price of prescription drugs. This announcement is a win for seniors and taxpayers as we take another step toward standing up to the big drug companies and negotiating for lower prices,” said Senator Baldwin. “Not only will seniors feel the savings in their pocketbooks, but also this puts the pressure on the big drug makers to lower costs for all Americans who rely on these drugs to treat asthma, cancer, and diabetes.”

Between November 2023 and October 2024, about 5.3 million people with Medicare Part D coverage used these drugs to treat a variety of conditions, such as cancer, type 2 diabetes, and asthma. These selected drugs accounted for about $41 billion in prescription drug costs under Medicare Part D. When combined with the 10 drugs selected for the first cycle of negotiations, this represents 36% of prescription drug costs under Medicare Part D during that same time period.

The selected drugs include weight loss drugs like Ozempic, Rybelsus, and Wegovy to treat type 2 diabetes and cardiovascular disease; Trelegy Ellipta and Breo Ellipta to treat asthma and COPD; Tradjenta and Janumet to treat type 2 diabetes; and Xtandi and Ibrance to treat cancers. A full list of selected medications in this round is available here.

Thanks to the Baldwin-backed Inflation Reduction Act – the historic law lowering health care costs – Medicare is now able to negotiate the prices of certain prescription drugs with the aim to make drugs more affordable for seniors and for people with disabilities. In August 2023, HHS announced the 10 drugs covered under Medicare Part D selected for the first cycle of negotiations.

In the first cycle of negotiations, Medicare negotiated with the participating drug manufacturers and reached an agreement on new, lower prices for all 10 drugs. Those prices will become effective starting January 1, 2026. If the new prices had been in effect in 2023, they would have saved an estimated $6 billion in net covered prescription drug costs, or approximately 22 percent, across the 10 selected drugs. The new, lower prices range from 38 to 79 percent discounts off of list prices. In 2026, people with Medicare prescription drug coverage are expected to see aggregated estimated savings of $1.5 billion in their personal out-of-pocket costs.

In future years, the Centers for Medicare and Medicaid Services will select for negotiation up to an additional 15 drugs for the third cycle of negotiation, and up to 20 more drugs for each cycle after that, as outlined in the Inflation Reduction Act.

A full list of selected drugs is available here.

NOTE: This press release was submitted to Urban Milwaukee and was not written by an Urban Milwaukee writer. While it is believed to be reliable, Urban Milwaukee does not guarantee its accuracy or completeness.

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