Legal Action Looms for Medicare Over Drug Price Negotiations, Says Pfizer CEO

Pfizer CEO, Albert Bourla, predicts that pharmaceutical companies will likely take legal action against Medicare drug price negotiations, which aim to cut costs for older Americans, but will likely reduce company profits. Bourla called the plan "negotiation with a gun to your head" and argued it will cut pharmaceutical profits and force thousands of companies to pull back on developing life-saving medicines. However, he acknowledged some positive aspects of the law for patients, such as lower out-of-pocket costs for medicines.