Merck files lawsuit against US government to block Medicare drug price talks.

Merck has filed a lawsuit against the US government, seeking to halt the Medicare drug price negotiation program contained in the Inflation Reduction Act (IRA), which it argues violates the Fifth and First Amendments to the US Constitution. This is the first attempt by a drugmaker to challenge the law, which the pharmaceutical industry says will result in a loss of profits that will force them to pull back on developing groundbreaking new treatments. The Biden administration's drug pricing reform aims to save $25 billion annually by 2031 through price negotiations for Medicare.