Merck, Bristol Myers Squibb, the U.S. Chamber of Commerce and PhRMA filed separate lawsuits against the provision last month.

Johnson & Johnson sued the Biden administration over Medicare’s new powers to slash drug prices, making it the third pharmaceutical company to challenge the controversial provision of the Inflation Reduction Act.

  • @MicroWave@lemmy.worldOP
    24•1 year ago

    President Joe Biden’s Inflation Reduction Act, which passed in 2022 by a narrow party-line vote, empowered Medicare to negotiate drug prices for the first time in the program’s six-decade history.

    The provision aims to make drugs more affordable for older Americans but will likely reduce pharmaceutical industry profits.