Swiss drugmaker Novartis (NOVN: VX) has launched legal action against the US Government, after administrators revealed the first drugs to be subject to pricing regulations mandated by the Inflation Reduction Act (IRA).
As expected, the list includes a number of blockbuster heart drugs and diabetes medicines, products which have a large impact on the budget of the USA’s federally-funded insurance scheme, Medicare.
The list also includes one cancer drug, Imbruvica (ibrutinib), and a number of immunologicals used to treat various inflammatory conditions.
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