Harder Marks Historic Step as Medicare Gains Power to Negotiate Prices for 10 Life-Saving Drugs

STOCKTON – Today, Representative Josh Harder (CA-9) highlighted this week’s announcement naming the 10 widely used life-saving medications Medicare has been given the power to negotiate prices on, including drugs for blood clots and diabetes. This historic step was made possible by the Inflation Reduction Act. Lowering the cost of these medications could result in thousands of dollars in out-of-pocket savings each year for seniors and other Medicare enrollees in San Joaquin County. 

“No one should be forced to choose between necessities like food or the prescription medication they need,” said Rep. Harder. “When we passed legislation capping insulin at $35 per month for seniors on Medicare, it was the first time Big Pharma lost a fight in Congress, and they saw the writing on the wall: the top three insulin manufacturers are cutting insulin costs for everyone. This is especially important for places like San Joaquin County, where half of the population is diabetic or pre-diabetic.”

“In that same bill, the Inflation Reduction Act, we gave Medicare the power to negotiate drug prices for the first time,” Rep. Harder continued. “This week, the first ten drugs selected for price negotiation were announced. These are life-saving medications, and this will help over 9 million people afford the medications they need. This is a massive step toward making prescription drugs more affordable for everyone.”

The announcement of these 10 drugs is the beginning of the price negotiation process which is set to continue through 2026. Additional provisions in the Inflation Reduction Act include capping the monthly cost of insulin at $35 for seniors with Medicare, allowing seniors to get important vaccines at no cost, and penalizing drugmakers that raise prices higher than the rate of inflation.

This continues Rep. Harder’s efforts to lower the cost of prescription drugs and make health care more accessible in San Joaquin County.

This full list of drugs being negotiated by Medicare includes:

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