Pharma Giants Shift Stance, Embrace Medicare Negotiations Amid Rising Drug Costs
Portfolio Pulse from Vandana Singh
Pharmaceutical companies AstraZeneca, Bristol Myers Squibb, and Boehringer Ingelheim have agreed to participate in Medicare drug price negotiations, despite previously suing to halt the process. The negotiations are part of an effort to curb rising prescription medication costs for elderly Americans. The companies' drugs selected for the initial round of negotiations include AstraZeneca's Farxiga, Boehringer Ingelheim's Jardiance, and Bristol Myers Squibb's Eliquis.
September 28, 2023 | 2:20 pm
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AstraZeneca has agreed to participate in Medicare drug price negotiations, which could potentially impact the pricing of its Type 2 diabetes drug, Farxiga.
AstraZeneca's agreement to participate in the negotiations could potentially lead to a reduction in the price of Farxiga, which could impact the company's revenues. However, the overall impact will depend on the outcome of the negotiations.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Bristol Myers Squibb has agreed to participate in Medicare drug price negotiations, which could potentially impact the pricing of its blood thinner, Eliquis.
Bristol Myers Squibb's agreement to participate in the negotiations could potentially lead to a reduction in the price of Eliquis, which could impact the company's revenues. However, the overall impact will depend on the outcome of the negotiations.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Johnson & Johnson is mentioned as one of the companies that have filed lawsuits challenging the constitutionality of the Medicare drug price negotiations.
Johnson & Johnson's opposition to the negotiations could potentially lead to legal complications and reputational risks. However, the company's overall impact will depend on the outcome of the legal proceedings and the negotiations.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
Merck & Co is mentioned as one of the companies that have filed lawsuits challenging the constitutionality of the Medicare drug price negotiations.
Merck & Co's opposition to the negotiations could potentially lead to legal complications and reputational risks. However, the company's overall impact will depend on the outcome of the legal proceedings and the negotiations.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 50