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Medicare Drug Prices

All articles tagged with #medicare drug prices

legalhealthcare1 year ago•3 min saved

"Federal Judge Dismisses Big Pharma Lawsuit Against Medicare Drug Price Negotiation"

A federal judge in Texas dismissed a lawsuit brought by pharmaceutical trade group PhRMA, arguing that forcing drug makers to negotiate Medicare drug prices is unconstitutional, ruling that the court lacks jurisdiction. The lawsuit is one of nine from the pharmaceutical industry challenging the price negotiations outlined in the Inflation Reduction Act of 2022. The judge's decision is a small win for the Biden administration, which is defending the negotiations on multiple fronts.

via Ars Technica|

#big-pharma #constitutional-claims #jurisdiction

healthcare2 years ago•3 min saved

Pharma Giants Reluctantly Enter Medicare Price Negotiations

Several pharmaceutical companies, including Merck, AstraZeneca, Bristol Myers Squibb, and Boehringer Ingelheim, have reluctantly agreed to participate in negotiations over Medicare drug prices, despite their ongoing lawsuits against the federal government. These companies manufacture prescription drugs that were among the first 10 selected for price negotiations under the Biden administration's Inflation Reduction Act. If they refuse to negotiate, they could face hefty fines or be forced to withdraw their drugs from Medicare and Medicaid markets. The negotiation period will end in August 2024, with the first round of negotiated prices taking effect in January 2026.

via Ars Technica|

#biden-administration #healthcare #inflation-reduction-act