Medicare Drug Price Negotiation - What Court's Decision Means for Americans
Portfolio Pulse from Vandana Singh
A U.S. District Judge has upheld a key initiative of President Joe Biden, allowing Medicare to negotiate prescription drug prices. The U.S. Chamber of Commerce had filed a lawsuit against this policy, arguing it infringes on constitutional rights and could hinder pharmaceutical innovation. However, AstraZeneca Plc (NASDAQ:AZN), Bristol Myers Squibb & Co (NYSE: BMY), and Boehringer Ingelheim have agreed to participate in the initial round of Medicare drug price negotiations.
October 02, 2023 | 2:54 pm
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AstraZeneca has agreed to participate in the initial round of Medicare drug price negotiations, despite previous opposition.
The decision to allow Medicare to negotiate drug prices could potentially lead to lower prices for AstraZeneca's products, which could negatively impact the company's revenues and profitability in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Bristol Myers Squibb has agreed to participate in the initial round of Medicare drug price negotiations, despite previous opposition.
The decision to allow Medicare to negotiate drug prices could potentially lead to lower prices for Bristol Myers Squibb's products, which could negatively impact the company's revenues and profitability in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80