Forbes June 16, 2023
Last week, the pharmaceutical giant Merck filed a lawsuit against the U.S. Department of Health and Human Services (HHS) and the Centers for Medicare and Medicaid Services (CMS). The complaint characterizes the provision detailing the process of Medicare drug price negotiations established by the Inflation Reduction Act (IRA) as “tantamount to extortion.” In addition, the company asserts that the “singular purpose of this scheme is for Medicare to obtain prescription drugs without paying fair market value.” Almost immediately following Merck, the Chamber of Commerce also sued HHS and CMS on similar grounds of purported government overreach.
Merck seeks to maintain the status quo in which drugs are priced in accordance with supposedly “fair market value.” On the other hand, Medicare...
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