The Biden administration on Tuesday unveiled the first 10 prescription drugs that will be subject to price negotiations between manufacturers and Medicare, kicking off a controversial process that aims to make costly medications more affordable for older Americans. President Joe Biden’s Inflation Reduction Act, which passed in a party-line vote last year, gave Medicare the power to directly hash out drug prices with manufacturers for the first time in the federal program’s nearly 60-year history. The agreed-upon prices for the first round of drugs are scheduled to go into effect in 2026. Here are the 10 drugs subject to the initial talks this year: Eliquis, made by Bristol-Myers Squibb, is used to prevent blood clotting, to reduce the risk of stroke.Jardiance, made by Boehringer Ingelheim, is used to lower blood sugar for people with Type 2 diabetes. Xarelto, made by Johnson & Johnson, is used to prevent blood clotting, to reduce the risk of stroke.Januvia, made by Merck, is used to lower blood sugar for people with Type 2 diabetes.Farxiga, made by AstraZeneca, is used to treat Type 2 diabetes.Entresto, made by Novartis, is used to treat certain types of heart failure.Enbrel, made by Amgen, is used to treat rheumatoid arthritis. Imbruvica, made by AbbVie, is used to treat different types of blood cancers. Stelara, made by Janssen, is used to treat Crohn’s disease.Fiasp and NovoLog, insulins made by Novo Nordisk.The Medicare negotiations are the centerpiece of the Biden administration’s efforts to rein in the rising cost of medications in the U.S. Some Democrats in Congress and consumer advocates have long pushed for the change, as many seniors around the cou …
