Biden Administration Vs. Big Pharma: What the Legal Showdown Means for Your Wallet
Portfolio Pulse from Vandana Singh
The Biden administration's move to lower drug prices has prompted legal challenges from pharmaceutical giants including Bristol Myers Squibb Co (BMY), Novartis AG (NVS), and AstraZeneca Plc (AZN). The companies argue that the program grants the government the authority to dictate drug prices, infringing upon their rights. The legal battle is ongoing and a resolution is not expected soon.
August 31, 2023 | 5:35 pm
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AstraZeneca Plc is involved in legal challenges against the Biden administration's move to lower drug prices.
The ongoing legal battle could potentially impact AstraZeneca's profitability if the government succeeds in lowering drug prices.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Bristol Myers Squibb Co is involved in legal challenges against the Biden administration's move to lower drug prices.
The ongoing legal battle could potentially impact Bristol Myers Squibb's profitability if the government succeeds in lowering drug prices.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Novartis AG is involved in legal challenges against the Biden administration's move to lower drug prices.
The ongoing legal battle could potentially impact Novartis's profitability if the government succeeds in lowering drug prices.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100