Texas Judge Dismisses Big Pharma Lawsuit Against Medicare Price Negotiations
A federal judge in Texas dismissed a lawsuit brought by pharmaceutical industry groups challenging a new Medicare program that allows the government to negotiate prices for certain expensive drugs. The program, passed under the Inflation Reduction Act, aims to save government funds on serving Medicare patients. The judge's decision was a win for the Biden administration, but other legal challenges to the program remain. The program could potentially save $25 billion a year by 2031, but faces opposition from pharmaceutical companies. Additionally, the FDA authorized Florida to import prescription drugs from Canada, potentially impacting American pharmaceutical companies' hold on the U.S. medicines market.
