The Biden administration on Thursday announced that the Inflation Reduction Act’s Medicare Drug Price Negotiation Program will save the U.S. government around $6 billion in its first year of implementation.
Tag Archive for: Medicare drug price negotiation
The U.S. government’s Medicare health insurance program can begin negotiating prices for some prescription drugs this fall under a new program, a federal judge ruled on Friday, vindicating one of President Joe Biden’s signature initiatives.
The Biden administration on Tuesday released its list of 10 prescription medicines that will be subject to the first-ever price negotiations by the U.S. Medicare health program that covers 66 million people, with big-selling blood thinner Eliquis from Bristol Myers Squibb and Pfizer among them.
Boehringer Ingelheim sued the U.S. government in an attempt to block a program that gives the Medicare health insurance plan the power to negotiate lower drug prices, joining other drugmakers and business groups claiming that it would stifle development of new medicines.
Lobbying group Pharmaceutical Research and Manufacturers of America has joined forces with Merck and Bristol-Myers Squibb in filing a lawsuit against the federal government over the price-setting provisions in the Inflation Reduction Act, according to a statement released by the organization Wednesday.
Bristol Myers Squibb Co. (BMY.N) on Friday sued the U.S. government in an attempt to halt the Medicare drug price negotiation program that analysts believe will involve one of its top-selling medicines, saying it violates the Fifth and First Amendments to the U.S. Constitution.