Health
Bristol-Myers sues U.S. government over Medicare drug price negotiation plan
/cloudfront-us-east-2.images.arcpublishing.com/reuters/RZHXX2FRY5K2PGJUAYOUWB63S4.jpg "Bristol-Myers sues U.S. government over Medicare drug price negotiation plan")
June 16 (Reuters) – Bristol-Myers Squibb (BMY.N) on Friday sued the U.S. government for violations of the Fifth and First Amendments to the U.S. Constitution, seeking an injunction against Medicare’s drug-negotiating program that analysts believe involves one of the company’s top-selling drugs. bottom.
This is the third lawsuit to date to challenge legislation that is part of President Joe Biden’s signature Inflation Relief Act (IRA), which the pharmaceutical industry believes will cut profits and They argue that the development of groundbreaking new treatments will be forced to retreat.
US pharmaceutical company Merck & Co. MRK.N and the US Chamber of Commerce It sued the government last week over its plan to cut prices.
Americans pay more for prescription drugs than any other country. The Biden administration hopes to save $25 billion annually by 2031 by letting Medicare, the government’s health insurance for people 65 and older, negotiate prices for some of the most expensive medicines. ing.
Blood-thinning drug Eliquis shared by Bristol-Myers with Pfizer (PFE.N), according to data from the agency that operates Medicare and Medicaid, the U.S. government will cost more than $12.57 billion in 2021.that is Analyst expectations It will be among the first 10 drugs selected in September for price negotiations that take effect in 2026.
The Bristol-Myers lawsuit, filed in U.S. District Court for the District of New Jersey, alleges that price negotiations would force pharmaceutical companies to sell their medicines to Medicare at deep below-market discounts.
The company argues this violates the Fifth Amendment to the Constitution, which requires the government to pay reasonable compensation for private property acquired for public use.
“Big drug companies routinely force Americans to pay many times what they would pay customers in other countries to buy the exact same drug,” White House Press Secretary Carine Jean-Pierre said in a statement. Stated. “We are confident that we will prevail in court. Nothing in the Constitution prevents Medicare from negotiating lower drug prices.”
Bristol-Myers also argues that the law requires manufacturers to publicly state that government “pricing” is a genuine negotiation that results in a fair price, even if it is not. are doing.
“Unlike a true ‘negotiation’, this program guarantees that the government will get the product it wants at the price the government dictates,” the pharmaceutical company said in the lawsuit.
The company is seeking an injunction, saying the price cap would cause irreparable harm and not be in the public interest.
Merck made similar allegations in its lawsuit in Washington, DC federal court.
Reported by Patrick Wingrove, who lives in New York. Additional reporting by Nandita Bose of Washington.Editing: Bill Barclot
Our criteria: Thomson Reuters Trust Principles.
|
Sources 2/ https://www.reuters.com/business/healthcare-pharmaceuticals/bristol-myers-sues-us-government-over-medicare-drug-price-negotiation-plan-2023-06-16/ The mention sources can contact us to remove/changing this article |
What Are The Main Benefits Of Comparing Car Insurance Quotes Online
LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos
to request, modification Contact us at Here or [email protected]
 |
 |
 |
