Biden Administration Targets $6B Savings Through Medicare Drug Price Negotiations
Portfolio Pulse from Vandana Singh
The Biden administration announced that Medicare's newly negotiated prescription drug prices, expected to save the U.S. government $6 billion in the first year, will take effect in 2026. This initiative, part of the Inflation Reduction Act, aims to lower healthcare costs for Medicare recipients. Key drugs impacted include Bristol Myers Squibb's Eliquis, Merck's Januvia, Johnson & Johnson's Imbruvica, and Eli Lilly's Jardiance. Despite the savings, the direct benefit to patients remains unclear.
August 15, 2024 | 2:38 pm
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NEGATIVE IMPACT
Bristol Myers Squibb's Eliquis is among the drugs impacted by Medicare's new price negotiations, which aim to save the U.S. government $6 billion in the first year.
The price negotiations are likely to reduce revenue from Eliquis, impacting Bristol Myers Squibb's financial performance in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Johnson & Johnson's Imbruvica is among the drugs impacted by Medicare's new price negotiations, which aim to save the U.S. government $6 billion in the first year.
The price negotiations are likely to reduce revenue from Imbruvica, impacting Johnson & Johnson's financial performance in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Eli Lilly's Jardiance is among the drugs impacted by Medicare's new price negotiations, which aim to save the U.S. government $6 billion in the first year.
The price negotiations are likely to reduce revenue from Jardiance, impacting Eli Lilly's financial performance in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Merck's Januvia is among the drugs impacted by Medicare's new price negotiations, which aim to save the U.S. government $6 billion in the first year.
The price negotiations are likely to reduce revenue from Januvia, impacting Merck's financial performance in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80