Pharmaceutical company Merck & Co sued the U.S. government Tuesday, arguing that the drug price negotiation program in the Inflation Reduction Act violates the constitution.
Pharmaceutical company Merck & Co sued the U.S. government Tuesday, arguing that the drug price negotiation program in the Inflation Reduction Act violates the constitution. The 28-page complaint likens Medicare’s price negotiations to “political Kabuki theater” that’s “tantamount to extortion,” and claims that under the act, drugmakers like them would be forced to negotiate drug prices to the government at below market rates.
Merck alleges that this is a violation of the Fifth Amendment, which requires the government to pay “just compensation” for property taken for public use. Additionally, the company argues that drugmakers would be forced to sign agreements that state the negotiated prices are fair, claiming that to be a violation of free speech in the First Amendment. Merck is the first pharmaceutical company to challenge the law, which is aimed lowering drug prices for Medicare.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Biden-Harris Administration announces $2.6 billion framework through Investing in America agenda to protect coastal communities and restore marine resourcesToday NOAA announced a $2.6B framework to invest in coastal resilience through the Inflation Reduction Act. The initiative will protect coastal communities, restore marine resources, improve weather & climate data services, & more. ClimateReadyCoasts
Read more »
Merck sues over Medicare price negotiationsThe drug company Merck filed a lawsuit Tuesday in a bid to block the Biden administration’s plan to curb drug prices paid by the Medicare insurance program.
Read more »
Tesla To Reap $1.8 Billion From IRA Incentives, All Model 3 Cars Eligible For Full Tax Credit - CleanTechnicaTesla stands to qualify for $1.8 billion in the federal production credits that are part of the Inflation Reduction Act this year.
Read more »
Landmark Legislation Provides NESDIS Funding to Improve Climate-ReadinessThe Inflation Reduction Act will provide NESDIS with $80.5M to enhance climate data, with a focus on actionable information for key industries. Learn how the IRA will help NOAASatellites advance climate science and foster collaboration:
Read more »
Cancer vaccines poised to unlock 'new treatment paradigm' with Merck/Moderna dataAdding an experimental mRNA-based vaccine from Moderna Inc and Merck & Co reduced the risk that the most deadly skin cancer would spread by 65% over treatment with an immunotherapy alone in a midstage trial, the companies reported on Monday.
Read more »
Moderna and Merck Cancer Vaccine Used With Keytruda Reduces Risk of Deadly Skin Cancer SpreadingMelanoma is responsible for the large majority of skin cancer deaths, according to the American Cancer Society.
Read more »