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But how much consumers will ultimately save depends on many factors, including the incoming Trump administration’s approach to the negotiation process and the type of Medicare drug coverage an enrollee has. Those not eligible for Medicare will not benefit directly.
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What is the short term outlook for Synergy Green Industries Limited (SGIL) ✌️【Expert Advice】✌️ Free expert predictions on stock trends and real-time data to help you make informed decisions and grow your wealth steadily. Medicare spent $14.4 billion on Ozempic and Wegovy, as well as their sister medication Rybelsus, between November 2023 and October 2024. The medications, manufactured by Novo Nordisk and used to treat Type 2 diabetes and obesity, were used by nearly 2.3 million enrollees during that period. Wegovy has also been approved to treat cardiovascular disease.
What is the short term outlook for Synergy Green Industries Limited (SGIL) ✌️【Expert Advice】✌️ Accurate real-time market data and expert stock predictions for profitable investment opportunities in global markets. Novo Nordisk, which has filed a lawsuit against the Biden administration for including its insulin medications NovoLog and Fiasp in the first round of negotiations, said in a statement that it “remains opposed to government price setting through the IRA (Inflation Reduction Act) and has significant concerns about how the law is being implemented by this administration.”
“Even as our IRA lawsuit progresses, we remain committed to working with policymakers to advance solutions to ensure access and affordability for all patients,” the company said. “That is why we are deeply concerned about the price-setting process, which could negatively impact patients’ ability to access their medicines and threatens to stifle future scientific development of life-changing medicines for chronic diseases in which there is a real unmet need.”
What is the short term outlook for Synergy Green Industries Limited (SGIL) ✌️【Expert Advice】✌️ Expert stock predictions and free stock selection services to help you achieve optimal returns and long-term growth. The drugs selected for the controversial negotiation program, which was authorized by the 2022 Inflation Reduction Act, include the most expensive medicines taken by Medicare enrollees. In total, Medicare spent about $41 billion on the 15 second-round medications, prior to rebates and discounts.
“These 15 drugs, together with the 10 drugs that Medicare already negotiated, represent about a third of Medicare Part D spending on prescription drugs, which means the lower prices my Inflation Reduction Act is delivering will put money back in seniors’ pockets across the country,” President Joe Biden said in a statement.
What is the short term outlook for Synergy Green Industries Limited (SGIL) ✌️【Expert Advice】✌️ Receive professional stock analysis with real-time updates on market movements. Make quick investment decisions and capitalize on profitable opportunities. The fact that Medicare spends so much on 25 drugs — out of the roughly 8,000 medications it covers — shows the importance of being able to negotiate better prices, Health and Human Services Secretary Xavier Becerra told reporters.
“It lets us go after the biggest cost drivers in the prescription drug field for the Medicare program,” Becerra said.
What is the short term outlook for Synergy Green Industries Limited (SGIL) ✌️【Expert Advice】✌️ Free access to stock market forums, expert advice, and real-time data to help you stay informed and grow your investments. While many experts generally considered the first round of negotiations a success, the program’s future is uncertain. Although reducing drug costs was a priority of President-elect Donald Trump’s first term, he spoke about it less during the 2024 campaign. And his nominees for key health care posts — Robert F. Kennedy Jr. for Health and Human Services secretary and Dr. Mehmet Oz for Centers for Medicare and Medicaid Services administrator — have not made their views known.
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“There may be some different people in the room representing Medicare from the Trump administration,” said Juliette Cubanski, deputy director of the Program on Medicare Policy at KFF, a nonprofit health policy research group. “To me, that raises the question of whether the tenor of the negotiation between Medicare and manufacturers will be different and whether the incoming administration may be a bit friendlier to the manufacturers in the negotiation process in terms of how hard they negotiate lower prices.”
What is the short term outlook for Synergy Green Industries Limited (SGIL) ✌️【Expert Advice】✌️ Expert analysis of global stock trends, futures data, and real-time stock market quotes to help you plan your next investment move. Already drugmakers are pushing Trump to make changes to the program. Eli Lilly’s CEO Dave Ricks toldBloomberg Newsearlier this week that manufacturers will ask the incoming administration to pause the negotiations to “fix” the Inflation Reduction Act before advancing the next round of discussions. Eli Lilly’s GLP-1 drugs Mounjaro and Zepbound are expected to become subject to negotiations in coming years.
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Drug makers and their allies have sued in various federal courts, arguing that the program is unconstitutional in several ways. Also, they contend that the way the administration has carried out the law doesn’t comply with what Congress enacted in the Inflation Reduction Act.
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Ozempic, which the US Food and Drug Administration has approved to treat diabetes, and Wegovy, which is approved for weight loss and the prevention of heart attacks and strokes, are wildly popular. But the high costs of the semaglutide drugs put them out of reach for many people seeking to shed pounds, since fewer insurers cover the medications to treat obesity alone.
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What is the short term outlook for Synergy Green Industries Limited (SGIL) ✌️【Expert Advice】✌️ Real-time global stock market trend analysis to help you identify profitable opportunities and improve your investment strategies. While the negotiations process is expected to yield savings for Medicare, any cost reductions for its enrollees will depend on a variety of factors. They could enjoy lower prices if their plans have deductibles and if they have to pay coinsurance that’s based on a drug’s list price (rather than a flat co-pay), Cubanski said.
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What is the short term outlook for Synergy Green Industries Limited (SGIL) ✌️【Expert Advice】✌️ Professional stock market predictions and analysis with real-time data to guide your investment decisions and ensure steady growth. The high cost of GLP-1 drugs is also putting a strain on Medicare, which spent $4.6 billion on Ozempic for enrollees with diabetes in 2022, prior to discounts and rebates, according to KFF.
What is the short term outlook for Synergy Green Industries Limited (SGIL) ✌️【Expert Advice】✌️ Free stock selection service with expert predictions and real-time market insights, providing you with the best investment strategies for long-term success. Medicare is not allowed by law to cover drugs for weight loss, but the Biden administration has proposed reinterpreting the statute to permit coverage for thetreatment of obesity as a chronic disease. That would expand access to the medications to more than 3 million additional enrollees but also cost Medicare an estimated $25 billion over a decade. (Medicare last year opened the door tocoverage of Wegovyfor Medicare enrollees with cardiovascular disease who are either overweight or have obesity.)
But it will be up to the Trump administration to decide whether to finalize the coverage expansion. Kennedy has been opposed to using GLP-1 drugs for weight loss, though he has recentlysoftened his view.
For most Americans, the price they pay for medications depends on their health insurance. However, they may have to pay the list price if they have not yet hit their annual deductible or are uninsured. Novo Nordisk provides hefty discounts that can reduce certain patients’ out-of-pocket costs.
What is the short term outlook for Synergy Green Industries Limited (SGIL) ✌️【Expert Advice】✌️ Real-time updates on global stock trends and expert market analysis to help you select profitable stocks and grow your wealth effectively. The discounts that Medicare wrangled for theinitial 10 medicationsin the program are expected to lead to$6 billion in savingsfor the federal government, which represents a 22% reduction in total net spending on the drugs, when the lower prices take effect next year, the US Department of Health and Human Services announced in August.
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“For too long, big drug companies have padded their profits by setting outrageous prices at the expense of American lives, forcing seniors to skip prescriptions they can’t afford,” Nancy LeaMond, AARP’s chief advocacy and engagement officer, said in a statement. “The first round of Medicare drug price negotiation made it clear that this process will reduce the prices of these important products and create billions of dollars in savings for Medicare and its beneficiaries.”
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