The subject of intense industry criticism from the likes of lobby groups, Big Pharma, and biotech alike, the Inflation Reduction Act (IRA) subjects certain drugs to price negotiations directly with industry sponsors in the US for the first time. Ten initial drugs – which accounted for over USD 45 billion in Medicare Part D spending in the year leading up to May 2023 – have been announced by the Centers for Medicare & Medicaid Services (CMS), including J&J’s Imbruvica, Stelara and Xarelto, Bristol Myers Squibb’s Eliquis, Merck & Co.’s Januvia, Novartis’ Entresto, Eli Lilly’s Jardiance, AstraZeneca’s Farxiga, Novo Nordisk’s Fiasp and Amgen’s Enbrel.
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