Merck sues US government over Medicare drug price negotiation law.

Merck has sued the Biden administration over Medicare's new powers to reduce drug prices for seniors under the Inflation Reduction Act, accusing the negotiation process of being a "sham" and "tantamount to extortion." The drugmaker claims that the program violates the Fifth Amendment by taking private property for public use without just compensation and violates the First Amendment by forcing companies to participate in a "political deception." The Inflation Reduction Act will select 10 drugs for price negotiations, and Merck expects its Type 2 diabetes drug Januvia to be subject to those negotiations this year.