Starting January 1, 2027, Medicare’s negotiated prices — CMS calls them maximum fair prices — take effect for 15 more drugs covered under Part D. CMS announced them in November 2025. Together with the 10 drugs whose negotiated prices start in 2026, that is 25 drugs with a negotiated price.
CMS says that in 2024 about 5.3 million people with Part D used these 15 drugs, and that the drugs accounted for about $42.5 billion in total Part D gross covered drug costs, about 15 percent of that spending. If the new prices had been in effect in 2024, CMS estimates Medicare’s net spending on them would have been about $12 billion lower, about 44 percent. That is a program estimate. It is not a promise of what you will pay at the pharmacy.
The 15 drugs and the 30-day prices
The prices below are from CMS’s fact sheet. The first dollar amount is the agreed negotiated price for a 30-day supply in 2027. The second is the 2024 list price CMS used for a 30-day supply. List prices are rounded wholesale acquisition costs. Conditions are the ones CMS lists as commonly treated.
- Ozempic, Rybelsus, and Wegovy (Novo Nordisk) — $274 negotiated, versus a $959 list price. Type 2 diabetes; type 2 diabetes and cardiovascular disease; cardiovascular disease and obesity or overweight.
- Trelegy Ellipta (GlaxoSmithKline) — $175 versus $654. Asthma; chronic obstructive pulmonary disease.
- Xtandi (Astellas) — $7,004 versus $13,480. Prostate cancer.
- Pomalyst (Bristol-Myers Squibb) — $8,650 versus $21,744. Kaposi sarcoma; multiple myeloma.
- Ofev (Boehringer Ingelheim) — $6,350 versus $12,622. Idiopathic pulmonary fibrosis.
- Ibrance (Pfizer) — $7,871 versus $15,741. Breast cancer.
- Linzess (AbbVie) — $136 versus $539. Chronic idiopathic constipation; irritable bowel syndrome with constipation.
- Calquence (AstraZeneca) — $8,600 versus $14,228. Chronic lymphocytic leukemia / small lymphocytic lymphoma; mantle cell lymphoma.
- Austedo and Austedo XR (Teva) — $4,093 versus $6,623. Chorea in Huntington’s disease; tardive dyskinesia.
- Breo Ellipta (GlaxoSmithKline) — $67 versus $397. Asthma; chronic obstructive pulmonary disease.
- Xifaxan (Salix) — $1,000 versus $2,696. Hepatic encephalopathy; irritable bowel syndrome with diarrhea.
- Vraylar (AbbVie) — $770 versus $1,376. Bipolar I disorder; major depressive disorder; schizophrenia.
- Tradjenta (Boehringer Ingelheim) — $78 versus $488. Type 2 diabetes.
- Janumet and Janumet XR (Merck) — $80 versus $526. Type 2 diabetes.
- Otezla and Otezla XR (Amgen) — $1,650 versus $4,722. Oral ulcers in Behçet’s disease; plaque psoriasis; psoriatic arthritis.
The $274 figure is the 30-day price in CMS’s summary table for Ozempic, Rybelsus, and Wegovy as a group. The same fact sheet then shows that the price is not identical on every package. For three commonly used packs, CMS lists $276.78 for one Ozempic 4 mg/3 mL pen, $276.78 for 30 Rybelsus 7 mg tablets, and $385.63 for a pack of four Wegovy 2.4 mg pens. If you use one of these drugs, check the package you actually fill, not only the headline 30-day number.
Plans must cover them. Your cost still depends on the plan.
CMS says Medicare prescription drug plans — standalone Part D plans and Medicare Advantage plans that include drug coverage — must include these drugs on their formularies when CMS and the company have agreed on a negotiated price. The drug company has to make that price available to pharmacies and other dispensers for people who are eligible.
That requirement does not set your copay. What you pay still depends on your plan: the deductible, the tier, whether you have Extra Help, and how much you have already spent this year. CMS estimates that people in Part D would save about $685 million out of pocket in 2027 under the defined standard benefit. That is a national estimate, not your receipt.
Before December 7, enter your drugs on Medicare Plan Finder and compare the 2027 cost at the pharmacies you use. A drug can be covered and still cost more on one plan than another. For the separate 2027 Part D deductible and out-of-pocket cap, see the 2027 Part D cost update.
Check your list before December 7
Annual Enrollment ends December 7, 2026. We can look up whether one of these drugs is on a 2027 plan you are considering, and what that plan estimates you would pay.
Sources
- CMS press release — savings on 15 drugs for cancer and chronic disease (November 25, 2025)
- CMS fact sheet — negotiated prices for initial price applicability year 2027 (November 2025), including the 15-drug price table and the Ozempic, Rybelsus, and Wegovy package examples