Biotech Values

[DewDiligence]

CMS reveals 2026 IRA prices_for_10 “negotiated” drugs:

https://www.cms.gov/files/document/fact-sheet-negotiated-prices-initial-price-applicability-year-2026.pdf (scan to table on p.2)

Comments

• Most of these drugs are nearing the end of their US patent protection.

• Januvia, Enbrel, Stelara, and Imbruvica are already in decline due to competition from newer and better drugs.

• For Eliquis, Xarelto, Jardiance, Farxiga, Januvia, and Novolog/Fiasp, the IRA prices are not hugely different from the prices of these drugs after existing rebates; for Entresto, Enbrel, Stelara, and Imbruvica, the IRA price cuts are steeper. See chart:

Quick comparison of existing rebates and new Medicare negotiated discounts. pic.twitter.com/7iOg8WalRI

— Ben Ippolito (@ben_ippolito) August 15, 2024