J&J and Astellas latest to launch IRA legal action

20 July 2023

US healthcare conglomerate Johnson & Johnson (NYSE: JNJ) and Japanese drugmaker Astellas (TYO: 4503) have joined a growing list of companies and groups that are suing the US government over its Medicare price-setting policies.

Merck & Co (NYSE: MRK), Bristol Myers Squibb (NYSE: BMY), trade group the Pharmaceutical Research and Manufacturers of America (PhRMA) and the US Chamber of Commerce have previously launched legal action of their own to challenge the drug pricing provisions of the Inflation Reduction Act (IRA).

'Below market prices'

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