Welcome to the Week in Review.
“It’s a relief I never thought I’d have”
On Thursday the Centers For Medicare & Medicaid Services (CMS) published the first-ever, lower negotiated prices for all 10 high-cost drugs selected for the inaugural round of Medicare negotiation as part of the Inflation Reduction Act (IRA). These lower negotiated prices, which take effect in 2026, come after six months of back-and-forth between CMS and drug manufacturers and promise substantial price reductions ranging from 38 to 79 percent for roughly nine million patients who take these medications. Medicare negotiation drove down prices by more than 75 percent for diabetes medications Januvia and Fiasp/NovoLog insulins, promising hundreds of dollars of monthly savings, and significantly reduced the high-priced irritable bowel drug Stelara, which had a 2023 list price of $13,836, by more than 65 percent. These lower prices are expected to save patients $1.5 billion in out-of-pocket in 2026 when they come into effect, and taxpayers will save an estimated $6 billion. Medicare negotiation will mean more breathing room for patients like Judy Aiken, a retired nurse who lives with psoriatic arthritis and psoriasis and relies on Enbrel. Judy had the opportunity to share her story directly with President Biden this week as well as introduce him and Vice President Harris at an event in Maryland focused on the new lowered costs. “A lower negotiated price for Enbrel and the nine other medications will lift the financial burden off the shoulders of seniors like me. It’s a relief I never thought I’d have,” Judy shared in her remarks. After decades of advocacy, Medicare can now leverage its negotiating authority to tackle inflated prices of drugs used to treat conditions like cancer, diabetes, heart failure, and chronic conditions – proving that change is possible when patients demand it. — (Centers For Medicare and Medicaid Services, NPR, Axios, The New York Times, Newsweek)
Patients Celebrate The IRA During Second Anniversary
Throughout the week, P4AD patient advocates and allies shared how over the last two years the drug price reforms in the Inflation Reduction Act have begun to tackle high prescription drug costs. On Tuesday, Bob Parant, who has lived with type 1 diabetes for over 50 years, and Steven Hadfield, a patient living with type 2 diabetes, participated in a White House panel about the impact of the $35 monthly insulin copay cap. On Wednesday, Kaye Peterson, a retired librarian from KY, who has lived with type 1 diabetes for over 40 years, and Judy Aiken, who suffers from psoriatic arthritis and psoriasis, took part in a celebratory patient community call hosted by P4AD Founder David Mitchell and AARP, with Department of Health and Human Services Secretary Xavier Becerra participating as a special guest. On the call, Secretary Becerra said that patients can “blow out the candles” to commemorate their tireless advocacy in achieving the reforms in the IRA. Earlier that day, Jackie Trapp, a former educator from Muskego, WI, participated in a press call alongside Senator Amy Klobuchar, P4AD Executive Director Merith Basey, and Accountable.US Executive Director Tony Carrk to discuss the new, lower negotiated prices under Medicare. Jackie takes Xarelto which had a 2023 list price of $517 but after negotiation will be priced at $197 in 2026 — a 62 percent price reduction. Patients fought hard to usher in this new era of lower drug prices through the reforms in the Inflation Reduction Act and as we celebrate this momentous anniversary, we recognize that while significant progress has been made, our work continues to expand these reforms so that every patient can have access to the drugs they need at prices they can afford. — (Salon, NBC Nightly News)
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