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QUOTES-Reactions to Medicare's drug price cuts
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QUOTES-Reactions to Medicare's drug price cuts
Aug 15, 2024 6:38 AM

Aug 15 (Reuters) - The U.S. government said on Thursday

it had negotiated down the prices of 10-top selling prescription

drugs by as much as 79% for the Medicare health program for

older Americans, ending months of unprecedented discussions with

drugmakers.

The U.S. government expects to save $6 billion in the first

year from the new prices negotiated through provisions of the

Inflation Reduction Act that allow Medicare for the most costly

drugs that the program covers for 66 million people.

Here are some reactions to the price cuts:

U.S. PRESIDENT JOE BIDEN:

"We showed that major progress can be made for the American

people when we work together to take on special interests, even

as Big Pharma continues to go to court to try to block lower

prices for consumers."

"But the Vice President and I are not backing down. We will

continue the fight to make sure all Americans can pay less for

prescription drugs and to give more breathing room for American

families."

VICE PRESIDENT KAMALA HARRIS:

"Today's announcement will be lifechanging for so many of

our loved ones across the nation, and we are not stopping here."

"Additional prescription drugs will be selected each year as

part of our Medicare drug price negotiation program."

XAVIER BECERRA, U.S. DEPARTMENT OF HEALTH AND HUMAN SERVICES

SECRETARY:

"Americans pay too much for their prescription drugs. That

makes today's announcement historic. For the first time ever,

Medicare negotiated directly with drug companies and the

American people are better off for it."

ABBVIE ( ABBV ):

"We can confirm the price that was set for (leukaemia

treatment) Imbruvica is within the range that we had

anticipated," the company said in a statement.

"The price setting provision of the Inflation Reduction Act

does nothing to benefit patients and will only harm the

scientific innovation that makes the development of

life-changing treatments possible."

NOVO NORDISK:

"We remain opposed to government price setting through the

IRA and have serious concerns about how the law is being

implemented, including aggregating multiple products that

individually would not meet the requirements of the statute,"

the company said in a statement.

"However, even as our IRA lawsuit progresses, Novo Nordisk

will ensure the MFP (maximum fair prices) is made available to

Medicare beneficiaries and entities that dispense to such

individuals by January 2026 as required by statute."

BRISTOL MYERS SQUIBB ( BMY ):

The negotiated price for blood-thinner Eliquis "does not

reflect the substantial clinical and economic value of this

essential medicine," the company said in a statement.

"Insurance plans and their pharmacy benefit managers are

ultimately responsible for what patients will pay for Eliquis."

"The IRA does not protect patients from potential increases

to their cost sharing or restrictions in access to Eliquis once

the MFP goes into effect in January 2026."

ASTRAZENECA ( AZN ):

"AstraZeneca ( AZN ) believes that everyone who needs our medicines

should have access to them, which is compromised for Medicare

and Medicaid patients if a manufacturer refuses to accept" the

prices, the company said in a statement.

"For this reason, AstraZeneca ( AZN ) has accepted the MFP for

(diabetes drug) Farxiga"

JOHNSON & JOHNSON ( JNJ ):

"The reality of the IRA's government price setting for U.S.

patients will be higher costs, and as seen in other countries

with government dictated prices, restricted access and fewer

medicines," the company said in a statement.

NOVARTIS:

"We acceded to a "maximum fair price" for (heart failure

drug) Entresto for 2026 only to avoid other untenable options

including catastrophic fines or the removal of all our products

from both Medicare and Medicaid," the company said in a

statement.

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