I am totally surprised that so little has been written about a new law that permits Medicare to negotiate the prices of 10 commonly used drugs that are a major expense for senior citizens.
Topping the list Eliquis, Jardiance, Xarelto, Januvia, Farxiga, Entresto, Enbrel, Imbruvica. Eliquis alone is used by over 3 million people. For my wife, on Medicare, until she reached the Donut Hole the price was about $50 for a 30 day supply of Eliquis. Then it jumped to about $250 as she was partially in the Hole. YIKES! As I understand the billing structure the next month the cost would be about $500. The doctor changed the prescription to Pradaxa and assured us that this alternative would work. BTW The drugs on the list announced Tuesday accounted for $3.4 billion in out-of-pocket costs for Medicare patients last year.
Meanwhile drugmakers and trade associations have filed eight lawsuits challenging the Inflation Reduction Act’s Medicare drug price negotiation program. Bristol-Myers Squibb Co. makes Eliquis. Their gross profit for the twelve months ending June 30, 2023 was $34.799 Billion.
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