Inflation Reduction Act’s drug price negotiations longtime legislative priority of Sen. Welch
WASHINGTON, D.C. – Senator Peter Welch (D-VT) today joined Families USA and Patients for Affordable Drugs for a virtual press conference celebrating the White House’s recent announcement of the first ten prescription drugs that will be negotiated under the Inflation Reduction Act (IRA), a policy change that Sen. Welch championed throughout his time as a member of the House of Representatives.
“Now, the Medicare price negotiation essentially brings us—the United States of America—through the Medicare program into the same situation that the Pentagon is in and that every other country is in. If you’re buying huge quantities, whether it’s aspirin or Enbrel, you get to negotiate a bulk price discount. It’s as simple as that. That’s what’s called capitalism in the market system,” said Sen. Welch during the event.
Senator Welch was joined on the call by Jen Taylor, Senior Director of Federal Relations for Families USA, David Mitchell, Cancer Patient and Founder of Patients For Affordable Drugs Now, and Sarah DeSilvey, a Vermont-based nurse practitioner.
Senator Welch has been a longtime champion of legislation to lower the cost of prescription drugs for Vermonters and all Americans. In addition to cosponsoring the Elijah E. Cummings Lower Drug Costs Now Act, which was the driving force of the Inflation Reduction Act (IRA), this Congress the Senator also co-led the introduction of the Strengthening Medicare and Reducing Taxpayer (SMART) Prices Act with Sen. Amy Klobuchar, which will build on the success of the provisions within the IRA and empower the Department of Health and Human Services to negotiate for even more drugs in Medicare Part D and as soon as five years after approval by the FDA.
Watch the virtual call here.
Learn more about how Vermont seniors and families will benefit from the Inflation Reduction Act’s drug pricing and health care saving provisions here.
The first 10 prescription drugs selected for negotiation by Medicare include:
|Drug Name||Commonly Treated Conditions|
|Eliquis||Prevention and treatment of blood clots|
|Jardiance||Diabetes; Heart failure|
|Xarelto||Prevention and treatment of blood clots; |
Reduction of risk for patients with coronary or peripheral artery disease
|Farxiga||Diabetes; Heart failure; Chronic kidney disease|
|Enbrel||Rheumatoid arthritis; Psoriasis; Psoriatic arthritis|
|Stelara||Psoriasis; Psoriatic arthritis; Crohn’s disease; Ulcerative colitis|
|Fiasp; Fiasp FlexTouch; Fiasp PenFill; |
NovoLog; NovoLog FlexPen; NovoLog PenFill
Source: The White House