Tag Archive for: Inflation Reduction Act (IRA)

A federal judge on Monday dismissed a lawsuit by a major pharmaceutical industry trade association challenging a new program that allows Medicare to negotiate prices with drug companies for selected costly drugs.

Drugmakers including Pfizer, Sanofi, and Takeda Pharmaceutical plan to raise prices in the United States on more than 500 unique drugs in early January, according to data analyzed by healthcare research firm 3 Axis Advisors.

The Biden administration will subject dozens of drugmakers to inflation penalties, the White House said on Thursday, in a move that would reduce out-of-pocket costs for Medicare recipients.

All 10 pharmaceutical companies whose products were selected for the first round of Medicare drug price negotiations have agreed to participate in the talks, the Department of Health and Human Services announced Tuesday.

The U.S. government’s Medicare health insurance program can begin negotiating prices for some prescription drugs this fall under a new program, a federal judge ruled on Friday, vindicating one of President Joe Biden’s signature initiatives.

Novartis on Friday filed a lawsuit against the Department of Health and Human Services, joining a growing list of industry heavy-hitters seeking to block the Inflation Reduction Act’s Drug Price Negotiation Program.

Drugmakers challenging a Biden administration program requiring them to negotiate with Medicare over the prices of selected costly drugs may not have a clear legal precedent on their side, but there are signs they could get a friendly hearing from the U.S. Supreme Court, legal experts said.

The Biden administration on Tuesday released its list of 10 prescription medicines that will be subject to the first-ever price negotiations by the U.S. Medicare health program that covers 66 million people, with big-selling blood thinner Eliquis from Bristol Myers Squibb and Pfizer among them.

AstraZeneca said on Friday it has sued the U.S. government to block parts of a program that gives the Medicare health insurance plan the power to negotiate lower drug prices.

Lobbying group Pharmaceutical Research and Manufacturers of America has joined forces with Merck and Bristol-Myers Squibb in filing a lawsuit against the federal government over the price-setting provisions in the Inflation Reduction Act, according to a statement released by the organization Wednesday.