Amplify: Democrats Deliver Lower Drug Costs for Americans
The Biden-Harris Administration has successfully negotiated significantly lower prices for the ten most commonly used pharmaceutical drugs in the US, thanks to the authority of the 2022 Inflation Reduction Act.
Current retail prices for these drugs in the U.S. are three to eight times higher compared with their prices in other Western countries. The drugs involved include popular blood thinners (Eliquis, Xarelto); diabetes treatments (Januvia, Jardiance, Farxiga); rheumatoid arthritis symptoms reduction (Enbrel); and others.
Highlights:
The legislation authorizing these negotiations (the IRA) passed Congress without a single Republican vote. The deciding vote in the Senate was cast by Vice President Harris.
When these price reductions go into effect in 2026 consumers are expected to save $1.5 billion in that first year alone.
Had these price reductions been in place last year, Medicare would have saved more than $6 billion in payouts for these drugs.
Negotiations are already taking place on reducing prices for 15 additional drugs, highlighting the Biden-Harris Administration’s commitment to lowering healthcare costs for Americans.
