U.S. Senator Amy Klobuchar (D-MN) has praised the announcement of the first ten prescription drugs subject to Medicare price negotiations, marking a significant milestone in the ongoing effort to lower drug costs for Americans. These negotiations are a result of the legislation passed in 2022 that ended a nearly 20-year prohibition on Medicare negotiating lower drug prices—a provision championed by Klobuchar.
“This announcement will save patients and taxpayers billions of dollars, and these savings will grow as Medicare negotiates the prices of even more drugs,” Klobuchar stated. She emphasized that these reduced prices will benefit not only seniors but also Americans with private insurance, as employers and health plans gain leverage to secure similar savings.
The negotiated prices, which will take effect in 2026, are expected to save Medicare $6 billion in the first year alone, with seniors saving $1.5 billion in out-of-pocket costs. Notable reductions include a 56% price cut for Eliquis, a 66% reduction for Jardiance, and a 79% drop for Januvia.
Klobuchar has long been an advocate for lowering drug prices, and this development is seen as a turning point in her efforts. She is also actively working to defend these Medicare negotiations against legal challenges from pharmaceutical companies.
The next round of drugs subject to negotiation will be announced by February 2025.