Prescription Drug Price Cuts for Montanans Announced

Montana seniors will see cheaper prescription drug prices on 10 common medications as a direct result of the Inflation Reduction Act. The law will lower the prices of 10 prescription drugs for Montana seniors by securing price negotiation power for Medicare, by allowing Medicare to directly negotiate drug prices with pharmaceutical companies. The negotiating process will begin Aug. 29, with cuts scheduled to go into effect in 2026.

“Montanans should never have to make the choice between life-saving medication or putting food on the table—and I’m proud to announce that beginning today, we’re lowering the cost of ten of the most common prescription drugs,” said Senator Jon Tester (D-MT) in a release on Aug. 29. “I am proud to have stood tough against large pharmaceutical corporations and successfully demand that they stop unnecessarily jacking up prices on folks across the state. Montanans sent me to Washington to deliver results, and I will continue to take on anyone to lower costs.”

Medicare will able to negotiate drug prices on behalf of patients for the ten following drugs:

Eliquis - an anticoagulant medication used to treat and prevent blood clots and to prevent stroke.

Jardiance - an antidiabetic medication used to improve glucose control in people with type 2 diabetes.

Xarelto – used to treat and prevent blood clots. May lower the risk of stroke, deep vein thrombosis (DVT), pulmonary embolism (PE), and similar conditions.

Januvia – used as a once-daily prescription pill that helps lower blood sugar levels in adults with type 2 diabetes.

Farxiga - used to treat type 2 diabetes. Also used to treat adults with heart failure and chronic kidney disease.

Entresto - is a fixed-dose combination medication for use in heart failure.

Enbrel - a biologic medical product that is used to treat autoimmune diseases.

Imbruvica - used to treat certain cancers (such as chronic lymphocytic leukemia/small lymphocytic lymphoma, Waldenstrom’s macroglobulinemia).

Stelara – used to treat adults 18 years and older with moderately to severely active Crohn’s disease.

Fiasp; Fiasp FlexTouch; Fiasp PenFill; NovoLog; NovoLog FlexPen; NovoLog PenFill – insulin.

“Today represents another major milestone in what has been a long journey towards finally making medicines affordable for Montanans enrolled in Medicare. Sen. Jon Tester kept his promise to lower health costs by passing this historic reform that will finally enable Medicare to negotiate prices on some of the most expensive medicines in Part D,” said Executive Director of Big Sky 55+ Tully Olson. “Once implemented, over 100,000 Montanans with Part D plans will save money on treating everything from diabetes to cancer and taxpayers can expect to save over $98 billion over the next decade.”

“If patients cannot afford their medications for chronic diseases such as diabetes it results in the astronautical cost of hospital services and treatment for complications,” said Travis Schule PharmD., CPP, BCPP, Pharmacy Director of Sykes Pharmacy. “Negotiating drug pricing, penalizing drug manufacturers that raise costs above inflation rates, mandating fixed-cost Medicare copays and lowering yearly out-of-pocket costs will allow for patients to have greater access to medications. The expansion of access will decrease the true cost of healthcare, hospitalization, and treatment of complications resulting from the non-treatment of chronic disease.”

The Inflation Reduction Act requires Medicare to negotiate drug prices, caps out-of-pocket prescription drug costs for Medicare patients at $2,000/year, caps the cost of insulin for Medicare patients at $35/ month, and extends Affordable Care Act provisions to prevent price hikes for thousands of Montanans. The legislation was signed into law in August 2022 and is fully paid for by holding corporations and billionaires accountable.