- 08.16.2024
Missoula Current: Tester: Price of lifesaving drugs set to drop
Patients who rely upon 10 lifesaving prescription drugs will see a decrease in prices after negotiations authorized in the Inflation Reduction Act., including insulin and Eliquis.
Sen. Jon Tester on Thursday said roughly 25,000 Montana seniors on Medicare will see cost savings up to 75%. Medicare enrollees across the nation will save roughly $1.5 billion on out-of-pocket costs when the new prices take hold.
“Montanans shouldn’t have to struggle to fill their lifesaving prescription medications because Big Pharma is jacking up prices, and today’s announcement is a big win for Montanans across our state,” Tester said in a statement.
Tester said the reduced prices will take effect on Jan. 1, 2026. Tester was the only member of Montana’s congressional delegation to vote for the Inflation Reduction Act.
For the first time ever, the act permitted Medicare to negotiate the price of covered prescription drugs. The Department of Health and Human Services is required to negotiate prices with drug manufacturers for 10 qualifying drugs for 2026 and 15 drugs for each of 2027 and 2028.
For 2029 and each following year, negotiations will include 20 drugs.
“I took the large pharmaceutical companies head-on to pass a commonsense law that will now officially lower the cost of 10 of the most common prescription drugs that Montanans rely on that treat heart disease, cancer, diabetes, blood clots, and more,” Tester said. “I’ll continue working to lower costs and put more money back in the pockets of hardworking families.”
According to Tester, the drugs include the following:
- Eliquis – an anticoagulant medication used to treat and prevent blood clots and to prevent stroke.
- List Price for 30-day Supply, CY 2023: $521
- NEW Negotiated maximum price for 30- day Supply for CY 2026: $231
- Percentage saved from new price: 56%
- Estimated number of Montana Medicare enrollees who utilize the medication: 10,246
- Jardiance – an antidiabetic medication used to improve glucose control in people with type 2 diabetes.
- List Price for 30-day Supply, CY 2023: $573
- NEW Negotiated maximum price for 30- day Supply for CY 2026: $197
- Percentage saved from new price: 66%
- Estimated number of Montana Medicare enrollees who utilize the medication: 3,175
- Xarelto – used to treat and prevent blood clots. May lower the risk of stroke, deep vein thrombosis (DVT), pulmonary embolism (PE), and similar conditions.
- List Price for 30-day Supply, CY 2023: $517
- NEW Negotiated maximum price for 30- day Supply for CY 2026: $197
- Percentage saved from new price: 62%
- Estimated number of Montana Medicare enrollees who utilize the medication: 4,486
- Januvia – used as a once-daily prescription pill that helps lower blood sugar levels in adults with type 2 diabetes.
- List Price for 30-day Supply, CY 2023: $527
- NEW Negotiated maximum price for 30- day Supply for CY 2026: $113
- Percentage saved from new price: 79%
- Estimated number of Montana Medicare enrollees who utilize the medication: 1,928
- Farxiga – used to treat type 2 diabetes. Also used to treat adults with heart failure and chronic kidney disease.
- List Price for 30-day Supply, CY 2023: $556
- NEW Negotiated maximum price for 30- day Supply for CY 2026: $178.50
- Percentage saved from new price: 68%
- Estimated number of Montana Medicare enrollees who utilize the medication: 991
- Entresto – is a fixed-dose combination medication for use in heart failure.
- List Price for 30-day Supply, CY 2023: $628
- NEW Negotiated maximum price for 30- day Supply for CY 2026: $295
- Percentage saved from new price: 53%
- Estimated number of Montana Medicare enrollees who utilize the medication: 858
- Enbrel – a biologic medical product that is used to treat autoimmune diseases.
- List Price for 30-day Supply, CY 2023: $7,106
- NEW Negotiated maximum price for 30- day Supply for CY 2026: $2,355
- Percentage saved from new price: 67%
- Estimated number of Montana Medicare enrollees who utilize the medication: 197
- Imbruvica – used to treat certain cancers (such as chronic lymphocytic leukemia/small lymphocytic lymphoma, Waldenstrom’s macroglobulinemia).
- List Price for 30-day Supply, CY 2023: $14,934
- NEW Negotiated maximum price for 30- day Supply for CY 2026: $9,319
- Percentage saved from new price: 38%
- Estimated number of Montana Medicare enrollees who utilize the medication: 83
- Stelara – used to treat adults 18 years and older with moderately to severely active Crohn’s disease.
- List Price for 30-day Supply, CY 2023: $13,836
- NEW Negotiated maximum price for 30- day Supply for CY 2026: $4,695
- Percentage saved from new price: 66%
- Estimated number of Montana Medicare enrollees who utilize the medication: 62
- Fiasp; Fiasp FlexTouch; Fiasp PenFill; NovoLog; NovoLog FlexPen; NovoLog PenFill – insulin.
- List Price for 30-day Supply, CY 2023: $495
- NEW Negotiated maximum price for 30- day Supply for CY 2026: $119
- Percentage saved from new price: 76%
- Estimated number of Montana Medicare enrollees who utilize the medication: 2,759