What are IRA-negotiated drug prices actually saving?
Data through CY2026 final parameters · Updated April 7, 2026
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The first 10 IRA-negotiated prices took effect January 2026, with per-fill savings from $292 to $9,141 — Stelara (ustekinumab) leads at $4,695 vs $13,836 before negotiation. Roughly 8.6M Part D members take at least one negotiated drug.
10
Drugs at negotiated prices (MFP)
Effective Jan 2026
$9,141
Largest per-fill saving (Stelara (ustekinumab))
CY2026
8.6M
Members on ≥1 negotiated drug
CY2026 est.
Per-fill savings by drug (negotiated price vs prior cost)
Values in USD per fill. MFP = maximum fair price. Member counts are beneficiaries with ≥1 fill of the drug.
Data table — all 10 negotiated drugs
| Drug | Class | Prior cost | MFP 2026 | Saving/fill | Members (K) |
|---|---|---|---|---|---|
| Stelara (ustekinumab) | Inflammatory | $13,836 | $4,695 | −$9,141 | 94 |
| Imbruvica (ibrutinib) | Oncology | $14,934 | $9,319 | −$5,615 | 82 |
| Enbrel (etanercept) | RA/Inflammatory | $7,106 | $2,355 | −$4,751 | 180 |
| Januvia (sitagliptin) | Diabetes | $527 | $113 | −$414 | 1,640 |
| Farxiga (dapagliflozin) | Diabetes/HF | $556 | $178 | −$378 | 890 |
| Fiasp/NovoLog (insulin aspart) | Diabetes | $495 | $119 | −$376 | 770 |
| Jardiance (empagliflozin) | Diabetes/HF | $556 | $197 | −$359 | 1,120 |
| Entresto (sacubitril) | Heart Failure | $628 | $295 | −$333 | 560 |
| Eliquis (apixaban) | Anticoagulant | $529 | $231 | −$298 | 1,840 |
| Xarelto (rivaroxaban) | Anticoagulant | $489 | $197 | −$292 | 1,380 |
So what / Now what
Negotiated prices cut plan liability on exactly the drugs that dominated catastrophic-phase spend, partially offsetting the OOP-cap cost shift. For pharma, the MFP resets net-price benchmarks for the whole class — including drugs not on the list.
- Payers: rebase 2027 bids on MFP acquisition costs; legacy rebate assumptions for these 10 molecules are obsolete.
- Pharma market access: model class-level spillover — payers will anchor formulary negotiations for competitors to the MFP.
- Watch the next negotiation cycle list (announced early 2027 for CY2028) — this page versions with each cycle.
Provenance — Part D benefit parameters, CY2022–CY2026
- Source file
- CMS Part D benefit parameter announcements; IRA statutory provisions
- Vintage
- CY2026 final parameters
- Last updated
- April 7, 2026
- Refresh cadence
- Annual (April announcement)
- Method
- Published standard deductible and IRA out-of-pocket cap by contract year; carrier deductible-waiver strategies compiled from public formulary filings.
- Known limitations
- Waiver-strategy rows are compiled from public filings and may lag mid-year formulary changes.