Bristol Myers Squibb (BMS) has thrown its legal hat in the ring, filing a lawsuit against the Biden Administration over upcoming Medicare drug pricing negotiations set up by the Inflation Reduction Act. In doing so, they join Merck as legal challengers to the process, which will set the prices drug companies can charge for a select set of high-price prescription therapeutics.
According to Tristan Manalac, “In BMS’ lawsuit, filed in the U.S. District Court for the District of New Jersey, the company is moving to have the provision declared unconstitutional. If the drug price negotiation program comes into force, BMS alleges that it would force pharma companies to give big discounts to Medicare and sell their products below market value.”
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(Source: BioSpace, June 19th, 2023)