Novo's Ozempic, Wegovy picked for US Medicare price negotiations
Source: Reuters
January 17, 2025 12:12 PM EST Updated 3 hours ago
Jan 17 (Reuters) - Novo Nordisk's (NOVOb.CO) blockbuster diabetes drug Ozempic and weight-loss treatment Wegovy are among the 15 drugs targeted for Medicare price negotiations for 2027, the U.S. government said on Friday, part of a law pharmaceutical companies have pledged to revisit with the Trump administration.
Other drugs on the list include Pfizer's (PFE.N) cancer drugs Ibrance and Xtandi, GSK's (GSK.L), opens new tab asthma and chronic obstructive pulmonary disease (COPD) treatment Trelegy Ellipta, Teva's (TEVA.TA), opens new tab Huntington's disease treatment Austedo and Abbvie's (ABBV.N) irritable bowel syndrome drug Linzess.
The price negotiation process was established under President Biden's signature Inflation Reduction Act (IRA) in 2022. The 15 new drugs are the second group of medications set to undergo the process and are among the most expensive for the Medicare health program for people aged 65 and older or with disabilities.
It's unclear if President-elect Donald Trump plans to make any changes to the program. Biden administration officials suggested he would be unable to do so because the law outlines detailed selection criteria. "These 15 drugs, together with the 10 drugs that Medicare already negotiated, represent about a third of Medicare Part D spending on prescription drugs," Biden said in a statement.
Read more: https://www.reuters.com/business/healthcare-pharmaceuticals/us-targets-novo-nordisks-diabetes-drug-ozempic-medicare-price-talks-2025-01-17/
Link to White House STATEMENT - Statement from President Joe Biden on the Next Fifteen Drugs Selected for Medicare Drug Price Negotiation
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