AstraZeneca, Boehringer Ingelheim and other drugmakers have filed at least eight lawsuits seeking to declare the Medicare price talks unconstitutional.
have filed at least eight separate lawsuits in recent months seeking to declare the negotiations unconstitutional. Another lawsuit from the Chamber of Commerce, one of the biggest lobbying groups nationwide, is seeking a preliminary injunction, which aims to block the negotiations before Oct. 1.
The pharmaceutical industry fiercely opposes the process because it believes it will threaten its revenue growth, profits and drug innovation. However, analysts expect minimal financial losses for companies, at least initially, since most of the drugs selected already face upcoming patent expirations that will likely weigh on revenue.
For example, Farxiga will lose its market exclusivity in 2026, which will open up the market to generic alternatives. That's the same year renegotiated prices are set to take effect. The Inflation Reduction Act, which passed Congress last year in narrow party-line votes, empowered Medicare to negotiate drug prices for the first time in the program's six-decade history. The law is the central pillar in the Biden administration's efforts to control rising drug prices and was a major victory for the Democratic Party.
The administration named the first round of drugs set to face price talks last month, kicking off a lengthy negotiation process that will end in August 2024.
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