On August 15, the White House and HSS announced the first 10 popular prescription drug prices to be reduced as a result of the long, and somewhat secret, negotiations with pharmaceutical companies. (See the list here.) New prices, which range in savings from 38-76 percent, will go into effect in 2026. In 2025, the list will grow to 15 targeted drugs.
If you recall from previous articles, negotiations were enabled by provisions of the Inflation Reduction Act to reduce costs to seniors, those with disabilities, the government and the American taxpayer over the next decade.
Which drugs were targeted for price reductions? The variables included:
- Brand name only – no generics or biosimilars
- On the market at least 7 years (or 11 years for biologics)
- Widely prescribed and among those with the highest total spending
To read more about the negotiations as well as the response from the drug companies, check out these articles: npr.org newsweek.com whitehouse.gov