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so about a year from now, we ll get a sense of what the new prices will be for those ten drugs on your screen that you see there. these are very commonly known drugs that help with blood thinners, medication that s for diabetes, for some blood cancer type of drugs. really essential things particularly for seniors. and that s what we re talking about here. when we look at the calendar of these drug companies have about 30 days to really agree to this or they will face some very stiff tax penalties and then negotiations will continue for about a year. we ll know the prices september of 2024 but those prices won t take effect until january of 2026. so there are some lawsuits that have already been announced and in the works. the white house says though they re not very concerned about that because they do believe that this is well established law that they re able to do this. that they just really needed the political capital to be able to get this across the finish line.
reporter: jardiance on the list for price cut negotiations along with januvia, feeias:00 and novo log. xarelto, blood thinner, enbrel, imbruvica, farxiga for diabetes and kidney dis. entresto for heart failure. today big pharma doesn t just get a big check. in 2003, the republican congress banned medicare from negotiating lower drug prices. the new law empowers medicare to do just that, negotiate. if drug companies don t participate, they face tax penalties. the pharma industry is suing to block the law, claiming it will mean less money for new drugs, and politics should not dictate which treatments and cures are worth developing and who should get access to them. but after capping insulin at $35, polls show broad support for more price caps. this is fundamentally about putting prescriptions