Pharmaceutical companies prepare legal battle against US pricing regulation.
Some of the world's largest drugmakers are preparing to fight the US plan to negotiate drug prices for its Medicare health coverage, including arguing that a ban against speaking about these talks violates constitutional rights. The Biden Administration's drug pricing reform aims to save $25 billion through price negotiations by 2031 for Americans who pay more for medicines than any other country. The pharmaceutical industry says the law will result in a loss of profits that will force them to pull back on developing groundbreaking new treatments. The first-ever Medicare drug price reduction process begins in September, and drugmakers are likely to file lawsuits arguing that the agency is not complying with Biden's legislation nor the US Constitution.