The US government's first-ever negotiated prices for prescription drugs are still more than double on average, and in some cases five times what drugmakers have agreed in four other high-income countries 1/5
This is the first time Medicare, which covers more than 67 million people, has disclosed drug prices, usually hidden behind a system of rebates and discounts. The lower prices will result in savings of $6 billion in 2026 when they take effect 2/5
A Reuters review of available maximum prices set by other wealthy nations — Australia, Japan, Canada and Sweden — show they have negotiated far lower prices for the same drugs 3/5
Once patents expire on a brand-name drug and copycat versions hit the market, prices fall sharply. But drugmakers are often able to extend US patent coverage by making small changes to formulation or dosage 4/5
There are still no US biosimilar competitors for one of the most expensive of the negotiated drugs, Amgen's Enbrel, first approved in 1998 for rheumatoid arthritis. US courts have blocked biosimilars until 2029 5/5
The US government's first-ever negotiated prices for prescription drugs are still more than double on average, and in some cases five times what drugmakers have agreed in four other high-income countries 1/5 This is the first time Medicare, which covers more than 67 million people, has disclosed drug prices, usually hidden behind a system of rebates and discounts. The lower prices will result in savings of $6 billion in 2026 when they take effect 2/5 A Reuters review of available maximum prices set by other wealthy nations — Australia, Japan, Canada and Sweden — show they have negotiated far lower prices for the same drugs 3/5 Once patents expire on a brand-name drug and copycat versions hit the market, prices fall sharply. But drugmakers are often able to extend US patent coverage by making small changes to formulation or dosage 4/5 There are still no US biosimilar competitors for one of the most expensive of the negotiated drugs, Amgen's Enbrel, first approved in 1998 for rheumatoid arthritis. US courts have blocked biosimilars until 2029 5/5
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