Regeneron, Janssen Drugs Fit Profile Targeted in Spending Bill

Democrats are advancing a plan to negotiate the prices of drugs Medicare spends the most on, potentially saving billions of dollars annually.

Medicine from Merck & Co., Johnson & Johnson, AstraZeneca PLC, and other major drugmakers could be targeted.

Democrats reached a compromise on their drug proposal that would allow the government to negotiate prices of medicines at least nine years out from their initial approval date. That means new drugs, which can make headlines with high sticker prices, wouldn’t be affected.

Nearly half of the prescription pharmaceuticals that were the top 10 costliest to Medicare’s outpatient ...