WASHINGTON, D.C. — The Biden administration on Thursday unveiled the results of its first-ever Medicare drug price negotiation, lowering the cost of 10 common prescription drugs.

Prior to the negotiations, the medications’ list price ranged from about $500 to $15,000. The negotiated prices represent a discount of 38% to 79%.

The price cuts are the result of the Inflation Reduction Act that passed in 2022.

The announcement comes as healthcare costs have become a key talking point in the run-up to the presidential election.

The White House estimated Medicare’s new power to negotiate drug prices would lead to an estimated $1.5 billion reduction in out-of-pocket expenses for seniors when the lower prices take effect in 2026.

President Joe Biden and Vice President Kamala Harris touted the price cuts at a campaign event in Maryland Thursday, Biden’s first public speech since he bowed out of the race in July.

“There's a lot of love in this room for our president. And I think it’s for many, many reasons including few leaders in our nation have done more on so many issues including to expand access to affordable health care than Joe Biden,” Harris said at the event.

While the results of the negotiations were scheduled to come out by Sept. 1, Democrats took advantage of the timing to draw support from senior citizens—the people who will pay less once the new prices take effect—and a key voting bloc.

Ohio lawmakers reacted along party lines, echoing how the Inflation Reduction Act passed two years ago, with nearly unanimous Democratic support, but not a single Republican vote.

Several Ohio Democrats released statements praising the drug price cuts, including Reps. Marcy Kaptur, D-Ohio, and Shontel Brown, D-Ohio.

Sen. Sherrod Brown, D-Ohio, wrote in a statement:

“After years of fighting Big Pharma and their lobbyists, we are bringing down drug prices for Ohioans. Soon many Ohioans on Medicare will be able to take advantage of negotiated lower prices for 10 popular prescriptions. I will continue to take on the drug companies and work to bring down drug costs for all Ohioans.”

No Ohio Republican lawmaker commented publicly, though Republican Senate candidate Bernie Moreno said in a statement,

"Thanks to the misguided price controls in Democrats' Inflation Reduction Act, seniors are paying higher premiums for the critical prescriptions they need, and the number of Medicare drug plans available has been reduced dramatically. This administration's 'negotiations' on Medicare drug prices only result in higher out-of-pocket costs, insurers covering fewer critical medicines, and less incentives for medicine development.”