US Government Facing Lawsuit Over Drug Price Negotiation Program
US Government Facing Lawsuit Over Drug Price Negotiation Program
US Government , Facing Lawsuit Over , Drug Price Negotiation Program.
On June 6, Merck announced a lawsuit against the United States arguing that the Inflation Reduction Act violates both the Fifth and First Amendments.
NBC reports that Merck is seeking an injunction of the Inflation Reduction Act's drug price negotiation program.
The drugmaker argues that the program would force the company to negotiate prices for drugs at below market rates.
NBC reports that people in the U.S. pay more for medication than any other country in the world.
NBC reports that people in the U.S. pay more for medication than any other country in the world.
The pharmaceutical industry has argued that resulting loss of profits from the new law would force them to halt the development of new treatments.
The pharmaceutical industry has argued that resulting loss of profits from the new law would force them to halt the development of new treatments.
The IRA uses severe penalties to requisition medicines while refusing to pay their fair value—and then coerces manufacturers to smile, play along, and pretend it is all part of a ‘fair’ and voluntary exchange, Merck statement, via NBC.
The IRA uses severe penalties to requisition medicines while refusing to pay their fair value—and then coerces manufacturers to smile, play along, and pretend it is all part of a ‘fair’ and voluntary exchange, Merck statement, via NBC.
The new laws would require written agreements conceding that the prices are fair, which Merck argues would violate the company's First Amendment protections.
The new laws would require written agreements conceding that the prices are fair, which Merck argues would violate the company's First Amendment protections.
NBC reports that the first Medicare drug price negotiation is scheduled to start in September.
New prices on what the CMS identifies as the ten most costly drugs would go into effect in 2026.
According to NBC, those price changes are estimated to cut industry sales by $4.8 billion in the first year alone