Forbes August 6, 2023
Under the Inflation Reduction Act’s drug pricing provisions, for the first time Medicare will soon be able to negotiate the prices of a limited subset of prescription drugs. Drug manufacturers and the investment community are worried about the impact drug price negotiations may have on the prices and corresponding revenues of certain drugs in the tail end of their lifecycles. Several drug manufacturers as well as the Chamber of Commerce have filed lawsuits challenging Medicare’s new pricing powers, calling them “unconstitutional” and “tantamount to extortion.”
But for certain drugs Medicare selects for price negotiation it may be difficult to achieve deeper discounts than the rebates these pharmaceuticals currently face. As such, the fears of the IRA leading to a crippling...
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