Biden Targets Cancer, Diabetes Drugs In Controversial Medicare Price Battle
Portfolio Pulse from Vandana Singh
The Centers for Medicare and Medicaid Services (CMS) has announced the first ten drugs subject to price negotiations under President Joe Biden's Inflation Reduction Act. The drugs, which accounted for $50.5 billion in total Part D gross covered prescription drug costs, are produced by Bristol Myers Squibb, Eli Lilly, Johnson & Johnson, Merck & Co, AstraZeneca, Novartis, Amgen, and Novo Nordisk. The negotiated prices will take effect on January 1, 2026. AstraZeneca has legally challenged the Inflation Reduction Act.

August 29, 2023 | 1:30 pm
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NEGATIVE IMPACT
Amgen's arthritis medicine Enbrel is targeted for price negotiation.
The price negotiation could potentially reduce the revenue from Enbrel, impacting Amgen's financial performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
AstraZeneca's Farxiga is targeted for price negotiation. The company has legally challenged the Inflation Reduction Act.
The price negotiation could potentially reduce the revenue from Farxiga, impacting AstraZeneca's financial performance. The legal challenge could also have implications for the company.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Bristol Myers Squibb's blood thinner, Eliquis, is targeted for price negotiation.
The price negotiation could potentially reduce the revenue from Eliquis, impacting BMS's financial performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Johnson & Johnson's Xarelto, Stelara, and Imbruvica are targeted for price negotiation.
The price negotiation could potentially reduce the revenue from these drugs, impacting Johnson & Johnson's financial performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Eli Lilly's diabetes treatment, Jardiance, is targeted for price negotiation.
The price negotiation could potentially reduce the revenue from Jardiance, impacting Eli Lilly's financial performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Merck & Co's blood pressure drug, Januvia, is targeted for price negotiation.
The price negotiation could potentially reduce the revenue from Januvia, impacting Merck & Co's financial performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Novo Nordisk's insulin analog, Fiasp, is targeted for price negotiation.
The price negotiation could potentially reduce the revenue from Fiasp, impacting Novo Nordisk's financial performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Novartis's heart failure drug Entresto is targeted for price negotiation.
The price negotiation could potentially reduce the revenue from Entresto, impacting Novartis's financial performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100