Johnson & Johnson sued the Biden administration over Medicare’s new powers to slash drug prices, making it the third pharmaceutical company to challenge the controversial provision of the Inflation Reduction Act.

  • MicroWave@lemmy.worldOP
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    1 year ago

    President Joe Biden’s Inflation Reduction Act, which passed in 2022 by a narrow party-line vote, empowered Medicare to negotiate drug prices for the first time in the program’s six-decade history.

    The provision aims to make drugs more affordable for older Americans but will likely reduce pharmaceutical industry profits.