Big Pharma Rallies Against Medicare's Historic Move to Control Drug Prices

The pharmaceutical industry is challenging Medicare's new powers to negotiate drug prices for seniors through a series of lawsuits aimed at the Supreme Court, according to legal experts. Merck, the U.S. Chamber of Commerce, and Bristol Myers Squibb have filed separate lawsuits arguing that the price negotiations are unconstitutional under the First and Fifth Amendments. The Inflation Reduction Act, passed last year, gave Medicare the authority to negotiate drug prices for the first time. The pharmaceutical industry sees this as a threat to revenue and claims it will hinder future drug development. The lawsuits are the first of many expected legal battles over the government's efforts to control rising drug prices.