Workweek July 1, 2023
Just as the ball started rolling with the implementation of drug pricing regulations under the Inflation Reduction Act of 2022, pharma and its lobbying organizations promptly jumped in, saying, “Whoa, whoa, whoa, let’s slow down a bit.”
Several drugmakers and lobbying groups have filed lawsuits against CMS and HHS, arguing that the Inflation Reduction Act provision giving Medicare the power to negotiate drug prices is unconstitutional. It just so happens to be the one provision that will greatly benefit Medicare patients but will simultaneously pose a significant threat to drug manufacturers’ revenue streams.
In this article, I’ll highlight the Inflation Reduction Act, dive into who is suing the government, and discuss why drugmakers have every right to be angry.
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