Pharma Giants Unite Against Drug Price Negotiation: AstraZeneca Latest To Challenge The Government
Portfolio Pulse from Vandana Singh
AstraZeneca has announced a legal challenge against the U.S. government's Inflation Reduction Act (IRA) that allows Medicare to negotiate more competitive drug prices. Other pharmaceutical companies including Johnson & Johnson, Merck & Co, Bristol Myers Squibb, Eli Lilly, and Pfizer have echoed this sentiment, suggesting that such a provision threatens the innovation and development of new therapeutic solutions. The pharmaceutical world is watching closely as the U.S. Department of Health and Human Services is set to negotiate prices for ten high-value drugs next month.
August 25, 2023 | 5:49 pm
News sentiment analysis
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NEGATIVE IMPACT
AstraZeneca's legal challenge against the U.S. government's Inflation Reduction Act could potentially impact its future revenues and profitability.
AstraZeneca's legal challenge against the Inflation Reduction Act could potentially lead to a decrease in drug prices, which could negatively impact the company's revenues and profitability in the future.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Bristol Myers Squibb's support of AstraZeneca's legal challenge against the U.S. government's Inflation Reduction Act could potentially impact its future revenues and profitability.
Bristol Myers Squibb's support of AstraZeneca's legal challenge against the Inflation Reduction Act could potentially lead to a decrease in drug prices, which could negatively impact the company's revenues and profitability in the future.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Johnson & Johnson's support of AstraZeneca's legal challenge against the U.S. government's Inflation Reduction Act could potentially impact its future revenues and profitability.
Johnson & Johnson's support of AstraZeneca's legal challenge against the Inflation Reduction Act could potentially lead to a decrease in drug prices, which could negatively impact the company's revenues and profitability in the future.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Eli Lilly's support of AstraZeneca's legal challenge against the U.S. government's Inflation Reduction Act could potentially impact its future revenues and profitability.
Eli Lilly's support of AstraZeneca's legal challenge against the Inflation Reduction Act could potentially lead to a decrease in drug prices, which could negatively impact the company's revenues and profitability in the future.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Merck & Co's support of AstraZeneca's legal challenge against the U.S. government's Inflation Reduction Act could potentially impact its future revenues and profitability.
Merck & Co's support of AstraZeneca's legal challenge against the Inflation Reduction Act could potentially lead to a decrease in drug prices, which could negatively impact the company's revenues and profitability in the future.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Pfizer's support of AstraZeneca's legal challenge against the U.S. government's Inflation Reduction Act could potentially impact its future revenues and profitability.
Pfizer's support of AstraZeneca's legal challenge against the Inflation Reduction Act could potentially lead to a decrease in drug prices, which could negatively impact the company's revenues and profitability in the future.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80