First 10 drugs for Medicare price negotiations chosen

In a historic move aimed at lowering drug costs for millions of Americans, the federal government Tuesday announced the first 10 drugs that will be subject to price negotiations between Medicare and pharmaceutical companies.

As a key provision of the Inflation Reduction Act enacted last year, the government will begin negotiating a fair market price for the widely used drugs, which include Bristol-Myers Squibb’s Eliquis, Johnson & Johnson’s Xarelto and Eli Lilly/Boehringer Ingelheim’s Jardiance, among others.