WASHINGTON, D.C. — U.S. Senator Sherrod Brown (D-OH) announced new, lower prices of 10 prescription drugs thanks to the Inflation Reduction Act, which Brown helped write and pass. Brown secured a critical provision in the law allowing the U.S. Secretary of Health and Human Services to negotiate directly with drug manufacturers to lower the price of prescription drugs for Medicare beneficiaries, to ensure older Americans get the best possible deal on high-cost medications. The new, lower prices are expected to save people enrolled in Medicare $1.5 billion in out-of-pocket costs in the first year alone, and will save taxpayers $6 billion. The new prices go into effect January 1, 2026.

“After years of fighting Big Pharma and their lobbyists, we are bringing down drug prices for Ohioans. Soon many Ohioans on Medicare will be able to take advantage of negotiated lower prices for 10 popular prescriptions. I will continue to take on the drug companies and work to bring down drug costs for all Ohioans,” said Brown.

Brown proclaims to be a leader in standing up to Big Pharma and working to lower prescription drug prices for Ohioans. For years he led the fight to allow Medicare to negotiate with drug companies for lower prices. Because of the Inflation Reduction Act, manufacturers are now required to pay a rebate to Medicare if a drug’s price increase exceeds the rate of inflation. The legislation also includes a monthly $35 cap on out-of-pocket insulin costs for all Ohioans on Medicare who rely on insulin to stay healthy.

The first ten prescription drugs that will have a new, lower negotiated price include commonly used blood thinners Eliquis and Xarelto; diabetes medications Jardiance, Januvia, Farxiga, and Fiasp; heart failure medication Entresto; medications to treat arthritis and psoriasis Enbrel and Stelara; and blood cancer medication Imbruvica. More than 381,000 Medicare enrollees in Ohio take at least one of these drugs.

Included is a chart to show the difference, under Medicare Part D, between the previous list price and the agreed to new price, including the number of Ohioans who use each prescription drug as of 2022.