CHICAGO — A longtime leader in advancing affordable health care, State Senator Mattie Hunter applauded the Biden Administration’s announcement Thursday that a deal has been reached between Medicare and pharmaceutical companies to lower the prices for 10 costly and commonly prescribed medications.

“We’ve watched the cost of living skyrocket, and people simply cannot afford the essentials anymore,” said Hunter (D-Chicago). “This legislative session, I passed a law limiting the cost of asthma inhalers — building on years of work in Illinois to make prescription medication accessible and affordable to those who need it. I am thrilled to see our federal government act with similar priorities.”

The deal will lower the price of drugs used by millions of older adults to help manage diabetes, blood cancers and arthritis, as well as prevent heart failure, strokes and blood clots. Medicare beneficiaries are expected to save $6 billion on the new prices, which will take effect in 2026.

This is the federal government’s first negotiation with prescription drug manufacturers on behalf of Medicare beneficiaries, which was announced in August 2023. The price cuts were made possible by the Inflation Reduction Act that granted the secretary of the U.S. Department of Health and Human Services the authority to negotiate the cost of 10 drugs without generic options on behalf of Medicare.

“I hope to see these negotiations extend to more prescriptions,” said Hunter. “These are lifesaving medications that cannot be out of reach for most Americans.”

To view a list of the drugs, visit the HHS website.