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WASHINGTON, DC — Today, Novartis—one of several pharmaceutical companies still suing the Biden-Harris administration to block Medicare from negotiating lower prescription drug prices—announced $3.2 billion in Q3 2024 earnings, a 111% increase from 2023, thanks to “sales growth driven by continued strong performance from Entresto.”

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Novartis seeing its profits double serves as another reminder that Big Pharma can afford to negotiate more reasonable prices for seniors. After years of big drug companies prioritizing profits over patients’ health, the Biden-Harris drug negotiation program is working to put seniors’ needs and pocketbooks first.”

Accountable.US Executive Director Tony Carrk

Entresto, a heart failure treatment by Novartis, is among the most expensive prescriptions for Medicare patients. Under the new program, the drug is now priced at $295 per 30-day supply, translating to $333 in savings per prescription. 

Despite industry objections and legal obstruction, the Inflation Reduction Act’s negotiation program is expected to save millions of Medicare beneficiaries $1.5 billion in out-of-pocket costs in just 2026.  

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