Medicare enrollees, who often get by on a fixed income, are still responsible for part of the cost of their prescription drugs. That can add up to several thousand dollars each year.
And many of the most commonly used drugs under Medicare see exorbitant price increases over time. After passage of the Inflation Reduction Act of 2022, the federal government is renegotiating some of those prices.
A recent AARP analysis identified the top Medicare drugs, along with how much they’ve increased in price since coming to market. It used data from the federal government’s Centers for Medicare & Medicaid Services from 2021, the most recent year available.
The data showed these 25 medications alone accounted for over 37% of Medicare’s prescription drug spending that year. Medicare spent nearly $81 billion on the 25 medications, according to data from KFF cited by AARP. That share was out of total Medicare spending of $216 billion on 3,500 covered prescription drugs.
Following are the top Medicare drugs that have skyrocketed in price since hitting the market.
25. Stelara
The year this drug first entered the market: 2009
Lifetime price hike for this drug as of 2021: 184%
Stelara, an injection made by Janssen Pharmaceuticals, is used to treat plaque psoriasis, psoriatic arthritis, Crohn’s disease and ulcerative colitis.
Stelara is also part of the first round of prescription drugs chosen for price negotiation by the Medicare program.
24. Pomalyst
The year this drug first entered the market: 2013
Lifetime price hike for this drug as of 2021: 102%
This alternative to Revlimid (which appears later in this list) from Bristol Myers Squibb is a one-a-day pill made for patients with relapsed multiple myeloma, a type of cancer.
23. Restasis
The year this drug first entered the market: 2002
Lifetime price hike for this drug as of 2021: 330%
Restasis is an eye drop medication. It treats chronic dry eye disease and is made by Allergan, an AbbVie company.
22. Entresto
The year this drug first entered the market: 2015
Lifetime price hike for this drug as of 2021: 78%
Novartis’ Entresto is made for patients with heart failure.
Like Stelara, Entresto’s pricing will be negotiated by the Medicare program.
21. Victoza
The year this drug first entered the market: 2010
Lifetime price hike for this drug as of 2021: 209%
Victoza is an injection to treat type 2 diabetes that does not contain insulin. It lowers blood sugar and A1C, and it can reduce the risk of major cardiovascular events like heart attack, stroke or death.
20. Levemir
The year this drug first entered the market: 2005
Lifetime price hike for this drug as of 2021: 360%
Levemir is an insulin pen injection to control high blood sugar in adults and children with diabetes. It’s made by Novo Nordisk.
19. Ibrance
The year this drug first entered the market: 2015
Lifetime price hike for this drug as of 2021: 53%
Ibrance is a treatment for breast cancer that has spread to other parts of the body. A targeted therapy known as a CDK 4/6 inhibitor, it’s the first drug of its kind to be approved by the U.S. Food and Drug Administration, according to manufacturer Pfizer.
18. Invega
The year this drug first entered the market: 2009
Lifetime price hike for this drug as of 2021: 126%
Invega is an extended-release tablet for treating schizophrenia made by Janssen.
17. Myrbetriq
The year this drug first entered the market: 2012
Lifetime price hike for this drug as of 2021: 114%
Astellas Pharma’s Myrbetriq treats an overactive bladder.
16. Symbicort
The year this drug first entered the market: 2006
Lifetime price hike for this drug as of 2021: 158%
Symbicort is an asthma-treating inhaler, although maker AstraZeneca cautions it “will not replace a rescue inhaler for sudden symptoms.”
15. Biktarvy
The year this drug first entered the market: 2018
Lifetime price hike for this drug as of 2021: 29%
This treatment for HIV-1 comes in pill form. It is made by Gilead Sciences.
14. Enbrel
The year this drug first entered the market: 1998
Lifetime price hike for this drug as of 2021: 701%
Enbrel is an injection made by Amgen, and treats rheumatoid arthritis, psoriatic arthritis, plaque psoriasis and ankylosing spondylitis, which is an inflammatory disease that can affect the spine.
Enbrel also has been chosen for price negotiation by Medicare.
13. Trelegy Ellipta
The year this drug first entered the market: 2017
Lifetime price hike for this drug as of 2021: 20%
Trelegy treats chronic obstructive pulmonary disease (COPD) — including chronic bronchitis, emphysema or both — as well as asthma. It is made by GlaxoSmithKline.
12. Xtandi
The year this drug first entered the market: 2012
Lifetime price hike for this drug as of 2021: 83%
Xtandi is a prostate cancer drug, specifically, an androgen receptor inhibitor. It is jointly made by Astellas Pharma and Pfizer.
11. Novolog
The year this drug first entered the market: 2000
Lifetime price hike for this drug as of 2021: 628%
NovoLog is a fast-acting insulin drug made, as you might guess from the name, by Novo Nordisk.
NovoLog also has been chosen for price negotiation by the Medicare program.
10. Ozempic
The year this drug first entered the market: 2017
Lifetime price hike for this drug as of 2021: 38%
Ozempic is made by Novo Nordisk. It boosts the body’s natural insulin production, helps diabetics manage blood sugar, lowers the risk of heart attack and suppresses appetite, which may lead to weight loss.
9. Imbruvica
The year this drug first entered the market: 2013
Lifetime price hike for this drug as of 2021: 108%
Imbruvica is a cancer treatment drug made by Pharmacyclics and Janssen, pharmaceutical companies owned by AbbVie and Johnson & Johnson, respectively.
Imbruvica pricing will be negotiated under the Medicare program.
8. Jardiance
The year this drug first entered the market: 2014
Lifetime price hike for this drug as of 2021: 97%
Another of the diabetes drugs in the top 10, Jardiance is made by Eli Lilly and Boehringer Ingelheim.
Jardiance was also chosen for price negotiation by the Medicare program.
7. Lantus
The year this drug first entered the market: 2000
Lifetime price hike for this drug as of 2021: 739%
Lantus is an insulin product made by Sanofi, which cut the price of the drug by 78% in early 2023.
6. Januvia
The year this drug first entered the market: 2006
Lifetime price hike for this drug as of 2021: 275%
Merck’s Januvia can cost as little as $5 per prescription through private insurance, according to the manufacturer. It helps manage blood sugar in people with Type 2 diabetes.
Januvia pricing will also be negotiated by the Medicare program.
5. Trulicity
The year this drug first entered the market: 2014
Lifetime price hike for this drug as of 2021: 91%
Trulicity is another drug used to treat Type 2 diabetes made by Eli Lilly.
4. Humira
The year this drug first entered the market: 2002
Lifetime price hike for this drug as of 2021: 562%
Humira is a prescription drug made by AbbVie and used to treat arthritis, psoriasis and Crohn’s disease, among others.
3. Xarelto
The year this drug first entered the market: 2011
Lifetime price hike for this drug as of 2021: 168%
The Janssen-made drug Xarelto is used to reduce the risk of blood clots and strokes.
Xarelto pricing will be negotiated by the Medicare program as well.
2. Revlimid
The year this drug first entered the market: 2005
Lifetime price hike for this drug as of 2021: 270%
Revlimid is a cancer-treating drug made by Bristol Myers Squibb. It cost Medicare an average of $129,200 per beneficiary in 2021, according to federal data.
1. Eliquis
The year this drug first entered the market: 2012
Lifetime price hike for this drug as of 2021: 124%
Eliquis is a blood thinner used to reduce the risk of stroke and blood clots. It’s made by Pfizer.
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