Pharmaceutical Lobbying Group Challenges Biden Administration Over Medicare Price Negotiations
The Pharmaceutical Research and Manufacturers of America (PhRMA), the National Infusion Center Association, and the Global Colon Cancer Association have filed a lawsuit against the Biden administration over Medicare's new powers to reduce drug prices for seniors. The Inflation Reduction Act, which allows Medicare to negotiate drug prices, has faced four lawsuits challenging its provisions. The policy is anticipated to impact the pharmaceutical industry's profits. The lawsuit argues that the Medi