Pharmaceutical companies prepare legal battle against US pricing regulation.

1 min read
Source: Reuters
Pharmaceutical companies prepare legal battle against US pricing regulation.
Photo: Reuters
TL;DR

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.

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