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As drugmakers adjust to less revenue, however, it would result in eight fewer new drugs coming to the U.S. market in 10 years and up to 30 fewer new drugs over 20 years, the Congressional Budget Office said.
Drugmakers say setting an upper limit on prices in the Medicare prescription-benefit program while fining companies that don’t play ball, looks more like extortion.
“Under the bill, the government dictates where the negotiation starts and can impose a massive tax penalty on a company that doesn’t accept the government-set price. This isn’t what most people would call a ‘negotiation.’ This is a partisan bill that threatens the future development of new treatments and patient access to life-saving medicines while doing little to fix the broader affordability challenges people are facing,” said Brian Newell, spokesman for the Pharmaceutical Research and Manufacturers of America, a major industry group and lobbying force.
May 24, 2021
After lawyers for Epic Games and Apple wrap up their closing arguments in a high-profile antitrust lawsuit today (May 24), US district judge Yvonne Gonzalez Rogers will spend the next few months deliberating on her verdict. The outcome of the case will, in large part, hinge on one key question: How big is the market in which Apple’s app store operates?
In the case, Epic is attempting to prove Apple has a monopoly over the market for apps like Epic’s hit game Fortnite and that Apple is using its monopoly power to take an unfairly large cut of the profits developers make through in-app purchases.