Ten widely prescribed and expensive medications used by millions of Americans on Medicare to treat blood clots, cancer, heart disease, and diabetes, such as Xarelto, Eliquis, and Jardiance, will be getting a lot cheaper after negotiated discounts with pharmaceutical companies, according to an announcement from the Biden administration Thursday.
List prices will be reduced by 38% to 79%, which means savings of hundreds or even thousands of dollars for 30-day supplies when the negotiated prices take effect in 2026. The Centers for Medicare & Medicaid Services (CMS) estimates that 8.8 million of the 54 million Americans with Medicare Part D were using these medications last year.
The pharmaceutical companies bargained for months after the CMS selected 10 high-priced, single-source drugs without generic or competitor versions to renegotiate under Biden’s Inflation Reduction Act of 2022. The administration says people enrolled in Medicare prescription drug coverage could save an estimated $1.5 billion, and taxpayers are expected to save $6 billion.
“I’ve been waiting for this moment for a long, long time,” President Joe Biden said Thursday during his first policy-oriented appearance with Vice President Kamala Harris since leaving the presidential race. “We pay more for prescription drugs; it’s not hyperbole than any advanced nation in the world.”
How will the new prescription drug prices affect California?
According to health policy research site KFF, nearly 5.5 million Californians were enrolled in Medicare Part D in 2023, 2.25 million in a stand-alone prescription drug plan, and 3.2 million in the Medicare Advantage drug plan.
According to the California Department of Healthcare Services, roughly 90 percent of Medicare beneficiaries in California were 65 and older.
The new prices take effect Jan. 1, 2026. Note that these list prices may not be what you pay. Discounts, coinsurance, and copays will affect the final prices.
Over the next two years, another 30 drugs will be selected for negotiated prices beginning in 2027 and 2028.
Which prescription drugs will have their prices reduced?
Here are the drugs set for price reduction in 2026 and the percentage decrease for a 30-day supply:
Januvia
Januvia from Merck Sharp Dohme helps patients with diabetes lower their blood sugar. Its list price was $527 in 2023 for a 30-day supply. As of 2026, the list price will be $113, a 79% savings.
Fiasp, NovoLog
Fiasp, Fiasp FlexTouch, Fiasp PenFill, NovoLog, NovoLog FlexPen, NovoLog PenFill from Novo Nordisk Inc are all insulin or insulin infectors for patients with diabetes. Last year they ran a list price of $495 for 30 days, the new price of $119 is 76% cheaper.
Farxiga
Farxiga from AstraZeneca AB reduces the risks of diabetes, heart failure, and chronic kidney disease. The list price in 2023 for a 30-day supply was $556; the new list price will be $178.50, down 68%.
Enbrel
The Immunex Corporation’s Enbrel treats rheumatoid arthritis, psoriasis, and psoriatic arthritis. In 2023, the list price for a 30-day supply was a staggering $7,106. The price for 2026 has dropped 67% to $2,355.
Jardiance
Jardiance from Boehringer Ingelheim is used to reduce the risk of heart failure, chronic kidney disease, and lower blood sugar. The list price last year was $573; in 2026, it will drop 66% to $197.
Stelara
Stelara by Janssen Biotech, Inc. treats psoriasis, psoriatic arthritis, Crohn’s disease, and ulcerative colitis. The 2026 list price will drop 66% from $13,836 for a 30-day supply to $4,695.
Xarelto
Janssen Pharms’ Xarelto is prescribed to reduce the risk of stroke and blood clots, treat existing blood clots, and reduce the risk for patients with coronary or peripheral artery disease. The list price was $517 in 2023; in 2026, it will drop 62% to $197.
Eliquis
Eliquis from Bristol Myers Squibb also prevents and treats blood clots. Last year, it was prescribed to nearly 4 million Medicare Plan D patients. The list price for a 30-day supply was $521; negotiations brought that down 56% to $231 in 2026.
Entresto
Entresto from Novartis Pharms Corp is used to treat patients with chronic heart failure to reduce the risk of death and hospitalization. Last year, the list price for 30 days was $628; in two years, it will drop 53% to $295.
Imbruvica
Imbruvica from Pharmacyclics LLC is prescribed to treat blood cancers such as chronic lymphocytic leukemia, Waldenström’s macroglobulinemia and chronic graft versus host disease. The most expensive on the list, the 2023 list price of $14,934, will drop 38% to $9,319 in 2026.
This article originally appeared on The Daytona Beach News-Journal: 10 expensive prescription drugs to drop in price, here’s the list
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