US HHS Reveal Cost Savings For 54 Prescription Drugs Including Novartis' Cancer Drug, Ozempic Could be Next
Portfolio Pulse from Vandana Singh
The US Department of Health and Human Services announced cost savings for 54 prescription drugs under Medicare Part B, effective from October 2024. This initiative aims to counter drug price hikes exceeding inflation, benefiting over 822,000 Medicare beneficiaries. Notably, Novartis' cancer drug Kymriah could save patients up to $3,000. The Inflation Reduction Act's initiatives will continue to reduce drug prices, with potential inclusion of Novo Nordisk's Ozempic in future negotiations.
October 01, 2024 | 6:51 pm
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POSITIVE IMPACT
Novo Nordisk's diabetes drug Ozempic might be included in future Medicare negotiations, potentially leading to reduced prices and increased accessibility.
The potential inclusion of Ozempic in future Medicare negotiations could lead to price reductions, making it more accessible and potentially increasing its market share, benefiting Novo Nordisk.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
Novartis' cancer drug Kymriah is included in the Medicare Part B cost savings program, potentially saving patients up to $3,000. This could positively impact Novartis by increasing accessibility and usage of Kymriah.
The inclusion of Kymriah in the Medicare Part B cost savings program makes it more affordable, likely increasing its usage and benefiting Novartis financially. This aligns with the company's strategy to make its drugs more accessible.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80