MATSUI STATEMENT ON BIDEN ADMINISTRATION’S ANNOUNCEMENT ON MEDICARE DRUG PRICE NEGOTIATION

SACRAMENTO, CA – Today, Congresswoman Doris Matsui (CA-07) released the following statement after the Biden Administration announced the first ten drugs for which the Centers for Medicare & Medicaid Services (CMS) will negotiate lower prices using its new authorities under the Inflation Reduction Act (IRA).
“For far too long, skyrocketing drug prices have chipped away at Americans’ financial well-being. No one should have to choose between their prescription drugs and their daily necessities. That is why I have long fought to end the anti-competitive ban on Medicare negotiating directly with drugmakers. Now, thanks to the landmark Inflation Reduction Act – Medicare is finally allowed to negotiate lower drug costs for our seniors.
“These first ten medications represent some of the costliest and most widely used treatments for diabetes, heart diseases, and cancer. For seniors on a fixed income or for families struggling to make ends meet, thousands of dollars in prescription drug costs are simply untenable. The IRA ensured these folks will have the lifesaving access to prescription drugs they need.
“Today, we are taking a historic step forward in our ongoing efforts to lower the cost of health care for all Americans. Now, I am ready to get back to work and finish the job.”
The selected drugs for the first round of negotiation are:
- Eliquis, for preventing strokes and blood clots
- Jardiance, for diabetes and heart failure
- Xarelto, for preventing strokes and blood clots
- Januvia, for diabetes
- Farxiga, for chronic kidney disease
- Entresto, for heart failure
- Enbrel, for arthritis and other autoimmune conditions
- Imbruvica, for blood cancers
- Stelara, for Crohn’s disease
- Fiasp; Fiasp FlexTouch; Fiasp PenFill; NovoLog; NovoLog FlexPen; NovoLog PenFill insulin products, for diabetes
Approximately 9 million Medicare enrollees took one of the ten selected drugs in 2022, with up to 830,000 enrollees in California taking one of these drugs. The average annual out-of-pocket costs paid by Medicare enrollees for one of these drugs was $6,497.
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