Forbes October 1, 2023
The Inflation Reduction Act’s prescription drug pricing provisions include price negotiations between Medicare and drug manufacturers for a limited subset of pharmaceuticals. Thus far, this particular stipulation in the law is subject to eight legal challenges. Six manufacturers and two industry groups have filed suits seeking to declare drug price negotiations unconstitutional or unenforceable.
Yet it’s the IRA’s drug pricing components that are viewed very favorably by voters on both sides of the political spectrum. Accordingly, the industry’s lawsuits to block Medicare from price negotiations are quite unpopular among constituents.
While some Republicans have talked about repealing the IRA, they’ve generally focused their attention on sections of the $737 billion bill which include green energy, climate change and bolstering Internal...