Medicare Drug Price Negotiation
Which drugs have negotiated Medicare prices in 2026?
Last reviewed: · Big Sioux Benefits Data Desk
Ten Medicare Part D drugs have negotiated prices effective January 1, 2026 (CMS, Negotiated Prices for Initial Price Applicability Year 2026). Together they were used by about 8.8 million of the 54 million people with Part D coverage in 2023 and accounted for $56.2 billion in Part D gross covered prescription drug costs, roughly 20% of all Part D drug spending that year.
The qualifier: the prices below are for a 30-day supply and describe what the drug costs, not what you pay. Your own cost runs through your plan's deductible and cost sharing and stops at the $2,100 annual out-of-pocket cap. List prices shown are 2023 wholesale acquisition costs, which is the comparison basis CMS published.
The ten drugs and their 2026 negotiated prices
| Drug | Treats | Negotiated, 30 days | 2023 list | Discount |
|---|---|---|---|---|
| Januvia | Diabetes | $113.00 | $527.00 | 79% |
| Fiasp and NovoLog family | Diabetes | $119.00 | $495.00 | 76% |
| Farxiga | Diabetes, heart failure, chronic kidney disease | $178.50 | $556.00 | 68% |
| Enbrel | Rheumatoid arthritis, psoriasis, psoriatic arthritis | $2,355.00 | $7,106.00 | 67% |
| Jardiance | Diabetes, heart failure, chronic kidney disease | $197.00 | $573.00 | 66% |
| Stelara | Psoriasis, psoriatic arthritis, Crohn's, ulcerative colitis | $4,695.00 | $13,836.00 | 66% |
| Xarelto | Blood clots, coronary and peripheral artery disease | $197.00 | $517.00 | 62% |
| Eliquis | Blood clots | $231.00 | $521.00 | 56% |
| Entresto | Heart failure | $295.00 | $628.00 | 53% |
| Imbruvica | Blood cancers | $9,319.00 | $14,934.00 | 38% |
Eliquis is the largest of the ten by a wide margin, with 3.9 million Medicare users and $18.3 billion in 2023 Part D costs on its own. If you take any drug on this list, the two follow-up questions worth asking are whether your own copay actually changed, covered in why your copay may not have dropped, and what happens next, in which drugs are next. If you are choosing coverage rather than researching a drug, start with Part D prescription drug plans.
Sources
- CMS — Medicare Drug Price Negotiation Program: Negotiated Prices for Initial Price Applicability Year 2026 — prices effective January 1, 2026; accessed 2026-08-21
- CMS — Selected Drugs and Negotiated Prices — accessed 2026-08-21
- CMS — Medicare Part D Spending by Drug — CY2025 full year and CY2026 Q1 files; accessed 2026-08-21
Related questions
Is Ozempic on the 2026 negotiated price list?
No. The first cycle covered ten drugs selected on an earlier data period, and Ozempic was not among them. CMS has since selected additional drugs for later cycles, with fifteen taking negotiated prices in 2027 and fifteen more announced in January 2026 for 2028.
Do these prices apply at every pharmacy?
The maximum fair price is a national price for the drug rather than a pharmacy-specific one. What you pay at a given pharmacy still depends on your plan's cost sharing and whether that pharmacy is preferred or standard in your plan's network.
Drug costs turn on your specific prescriptions, so the arithmetic is worth doing once, properly: book a free, no-pressure conversation, see your county's South Dakota plan lineup, or browse all answers. SHIINE, the state's free counseling program, is at 1-800-536-8197 and sells nothing.
Big Sioux Benefits is a licensed insurance agency, not affiliated with or endorsed by the U.S. government or the federal Medicare program. We do not offer every plan available in your area. Contact Medicare.gov, 1-800-MEDICARE, or SHIINE (South Dakota's SHIP) for all of your options.