In another setback for the #pharma industry, a US judge has rejected a bid to overturn the Medicare #drugpricing negotiation brought by @BMSnews and @JNJnews. https://t.co/eABQHwykE5
Federal judge rules against $BMY, $JNJ in IRA case, adding to industry's string of defeats. https://t.co/ks4zUWujxR
J&J, Bristol Myers lose challenges to US drug price negotiation program https://t.co/2OkvD01uif https://t.co/EP4YbRRG8Y
A federal judge in New Jersey ruled against Johnson & Johnson and Bristol Myers Squibb in their legal challenge against the Inflation Reduction Act's provision requiring them to negotiate prices for their blockbuster blood clot prevention drugs with the U.S. government's Medicare program. The court dismissed the companies' claims, including a 'freedom of speech' argument and a Takings Clause argument, marking a significant victory for the Biden administration. This decision confirms the constitutional validity of the IRA's drug negotiation program and is part of a series of legal setbacks for the pharmaceutical industry.
