"Today's announcement is pivotal - the Inflation Reduction Act is lowering prices for people on Medicare," said Xavier Becerra, Health and Human Services Secretary, in a statement. "HHS will continue negotiating in the best interest of people with Medicare to have access to innovative, life-saving treatments at lower costs."
The Department of Health and Human Services noted that the first round of drug price negotiations will go into effect next year. They estimate that Medicare recipients will save approximately $1.5 billion annually once those new prices have gone into effect.
Now the same agency has announced the next slate of drugs scheduled for negotiations, and a number of popular diabetes and weight loss medications are on the list. Ozempic, Rybelsus and Wegovy - all GLP-1 agonists - are among those cited for the next round of Medicare drug price negotiations.
The groundwork for the negotiations was established under the Inflation Reduction Act, and it didn't stop with the initial 10. Future cycles could encompass 'up to 20,' according to the agency's announcement.
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