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Medicare will seek to negotiate lower list prices for the blockbuster diabetes and weight loss drugs Ozempic and Wegovy and 14 other medications, a cost-saving move that would take effect in 2027.
The 15 drugs accounted for $41 billion, or 14%, of total Medicare Part D spending between Nov. 1, 2023, and Oct. 1, 2024.
Negotiations with participating drug companies will occur in 2025, and any negotiated prices will go into effect in 2027. Drug companies with a selected drug will have until the end of February to ...
inducing pioneering research and development of new drugs and; enabling competitors to bring low-cost, generic copies of those drugs to market'". [1] The Orange Book identifies drug products approved on the basis of safety and effectiveness by the Food and Drug Administration (FDA) under the Federal Food, Drug, and Cosmetic Act.
The list price on Merck's diabetes drug Janumet increased 293% since it hit the market in 2007, the largest increase among all 25 drugs, according to the report.
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109 S High St #100, Columbus, OH · Directions · (614) 224-4261