Pharmaceutical Lobbying Group Challenges Biden Administration Over Medicare Price Negotiations
Portfolio Pulse from Vandana Singh
Pharmaceutical lobbying groups, including PhRMA, have filed a lawsuit against the Biden administration over Medicare's new powers to reduce drug prices for seniors. The Inflation Reduction Act, which allows Medicare to negotiate drug prices, is anticipated to impact the pharmaceutical industry's profits. Eli Lilly, Pfizer, and Merck have expressed concerns about the potential impact on drug development.
June 22, 2023 | 11:38 am
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Eli Lilly's CEO expressed concerns about the potential impact of Medicare price negotiations on drug development.
The lawsuit against the Biden administration's Medicare price negotiation policy could negatively impact Eli Lilly's profits and drug development. The company's CEO has expressed concerns about the potential impact on drug development.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Merck filed a lawsuit against the U.S. government to halt implementing the Medicare drug price negotiation program.
The lawsuit against the Biden administration's Medicare price negotiation policy could negatively impact Merck's profits and drug development. The company has filed a lawsuit to halt the implementation of the program.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Pfizer's CEO called U.S. plans to negotiate drug prices for its Medicare health program a 'negotiation with a gun to your head.'
The lawsuit against the Biden administration's Medicare price negotiation policy could negatively impact Pfizer's profits and drug development. The company's CEO has expressed concerns about the potential impact on drug development.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80