Released: March 11, 2024

Drug companies push to block law that would cut prescription prices

Source: Tony Romm, Washington Post (Paid Registration)

Pharmaceutical giants are mounting a vigorous legal battle against President Biden’s plan to lower seniors’ prescription drug costs, urging federal judges here and around the country to invalidate a new program that aims to reduce the price of medications for high blood pressure, heart disease, cancer and diabetes.

The pharmaceutical industry specifically seeks to block a new law that enables Medicare to negotiate the price of select drugs under its prescription benefit, known as Part D.  That could raise the odds that the negotiation program comes to a halt before the government can finalize and implement new, lower prices starting in 2026.

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