“I’m so grateful to President Biden for passing the Inflation Reduction Act. It’s already made a huge difference in my life.”
WASHINGTON, D.C. — Patient advocate Steven Hadfield from North Carolina, who is on Medicare and lives with a rare blood cancer and type 2 diabetes, introduced and thanked President Biden for passing the Inflation Reduction Act and shared his story about the high prices of his own prescription drugs earlier this week. Today, the White House released a video that highlights Steven and President Biden’s conversation just ahead of the president’s Tuesday speech where he celebrated the announcement of the first 10 eligible drugs for which Medicare will negotiate lower prices.
“I have been a hard worker all my life. And I’ve always had to work multiple jobs simultaneously so I can afford my medications…But I’m afraid that if I retire, I won’t be able to afford what I need to survive,” Steven shared ahead of introducing the president. “Thanks to President Biden, that’s changing. He’s finally ending Big Pharma’s one-sided pricing power, and giving seniors like me a break.”
Steven takes numerous medications to keep him alive. One drug, Brukinsa, which treats his rare blood cancer, comes with a price tag of almost $16,000 a month. Thankfully, his diabetes medication is already significantly lowered from the Inflation Reduction Act. Steven used to pay up to $400 per month for his Lantus insulin, but thanks to the copay cap for Medicare beneficiaries in the new law, Steven now receives it for $35 a month. And another one of Steven’s diabetes drugs, Januvia, which carries a monthly list price of $547, was one of the first 10 drugs announced as eligible for negotiation.
Watch Steven’s remarks introducing the president here.