Pharma industry fights back against more pricing negotiations

19 January 2024

US healthcare lobbyist Vital Transformation has released a document outlining objections to the expansion of drug pricing policies under the Inflation Reduction Act (IRA).

One of US President Joe Biden’s signature policy achievements, the IRA mandates a change to drug pricing which was designed to enable savings for the federal health insurance program Medicare.

The legislation, which has led to Medicare administrators negotiating certain drug prices with manufacturers for the first time, affects a range of drugmakers, including those developing cancer meds such as AstraZeneca (LSE: AZN) and Bristol Myers Squibb (NYSE: BMY).

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