(Reuters) -The U.S. government will be releasing a preliminary list of generic drugs that would be made available to recipients of the Medicare program for no more than $2, Axios reported on Wednesday citing U.S. officials.
The report added drugs on the list will not be subject to requirements such as prior authorization or quantity limits.
The government will ask for feedback on its initial list of 101 generic drugs which will cover common prescriptions such as penicillin, metformin, lithium and albuterol asthma inhalers, according to the Axios report.
It would also include common drugs for high cholesterol, high blood pressure and other chronic conditions. The program is not expected to start until January 2027, the report said.
The Centers for Medicare & Medicaid Services did not immediately respond to a Reuters request for comment.
The U.S. Medicare health program spends billions of dollars annually on drugs for over 67 million people aged 65 and older or who have disabilities.
It recently unveiled new maximum prices for the first 10 high-cost prescription medicines negotiated under the Biden Administration’s Inflation Reduction Act.