How U.S. Medicare Prices Compare to Other Rich Nations 💉

Key takeaways

• In all but one instance (price of Stelara in Germany), Medicare-negotiated drug prices in the U.S. are still much higher than those in peer nations
• The peer group consists of: Australia, Austria, Belgium, Canada, France, Germany, Japan, Netherlands, Sweden, Switzerland, and the UK

Background

• A provision in the Inflation Reduction Act of 2022 required Medicare to negotiate prices with pharmaceutical companies for 10 high-expenditure drugs that lack generic competition. 
• The Medicare prices shown in this graphic were published on Aug. 15, 2024, and will go into effect for Medicare enrollees on Jan. 1, 2026.