Judge Denies Request to Block Medicare from Negotiating Drug Prices

A federal judge has rejected a request by the Chamber of Commerce to block the Biden administration's implementation of Medicare drug price negotiations. The ruling upholds the controversial process aimed at making expensive medications more affordable for older Americans. The pharmaceutical industry, which sees the negotiations as a threat to revenue growth and drug innovation, has filed multiple lawsuits challenging the constitutionality of the negotiations. The judge's decision is a setback for the industry, as the negotiations are expected to save Medicare an estimated $98.5 billion over a decade. The first round of price talks will involve 10 drugs and is set to conclude in August 2024, with reduced prices taking effect in January 2026.