The Biden administration released its list of 10 prescription medicines that will be subject to the first-ever price negotiations by the U.S. Medicare health program that covers 66 million people, with big-selling blood thinner Eliquis from Bristol Myers Squibb and Pfizer among them.
This is great. These negotiations will put a huge dent in Medicare’s RX spend and will demonstrate that real cost savings to the government payors and enrollees doesn’t bankrupt pharma — paving the way for broader application of this process.