Blood Thinners & Anti-Obesity Shots Dominate Medicare Drug Spending

From diabetes injectables to blockbuster blood thinners, a handful of drugs account for a sizable share of Medicare’s pharmacy bill.

This visualization, via Visual Capitalist’s Pallavi Rao, ranks the most common drugs by total Medicare spending in 2023, sourced from Centers for Medicare & Medicaid Services

It tracks every claim, dosage, and dollar flowing through Medicare Part D, the federal prescription-drug benefit.

Blood Thinners Are America’s Most Common Drug

Eliquis (generic name: Apixaban) alone racked up $18.3 billion in Medicare spending in 2023, nearly double the next drug, Ozempic.

Alongside Xarelto, anticoagulants accounted for over $24 billion in 2023.

Their rise reflects both an aging population and expanding preventative treatment for stroke and atrial fibrillation.

With almost four million beneficiaries, Eliquis is prescribed to roughly one in 10 Part D enrollees.

ℹ️ Related: See the 25 countries that are projected have the most seniors in 2050.

Diabetes and Weight-Loss Therapies Surge in America

Four GLP-1 and SGLT2 diabetes drugs—Ozempic, Jardiance, Trulicity, and Farxiga—collectively totaled $29.7 billion.

Novo Nordisk’s Ozempic and Eli Lilly’s Mounjaro also double as weight-loss aids, driving demand beyond traditional type-2 diabetes patients.

This table lists cost per dose for the 10 most expensive drugs.

Their high list prices—Ozempic averages $356 per dose—illustrate how novel biologics multiply spending even with smaller patient counts.

ℹ️ Related: See where Americans skipped going to the doctor (even when they had to) in 2023.

Cancer and Autoimmune Biologics are Expensive Drugs

Revlimid, Humira, and Stelara each exceed $3 billion despite treating fewer than 100,000 beneficiaries each.

Revlimid’s $878 per dose and Stelara’s staggering $26,818 underscore why biologics dominate specialty-drug budgets.

Want more health-related data storytelling? Check out Ranked: Countries That Spend the Most Years in Poor Health on Voronoi, the new app from Visual Capitalist.