NEW YORK, June 6 (Reuters) – Merck & Co (MRK.N) sued the U.S. government on Tuesday, seeking to halt the Medicare drug price negotiation program contained in the Inflation Reduction Act (IRA), which he says violates the Fifth and First Amendments to the United States Constitution. This is the first attempt by a drugmaker to defy the law, which the pharmaceutical industry says will result in lost profits forcing them to pull out of developing innovative new treatments. Americans pay more for prescription medicines than any other country. The Biden…
Read MoreTag: Medicare
Merck sues law that allows Medicare to negotiate with drug makers
Pharmaceutical company Merck sued the government Tuesday over a federal law that allows Medicare to negotiate prices directly with drug makers for the first time. The Merck lawsuit, filed in federal court in Washington, is the drug industry’s most significant move yet to thwart a major health care policy change, which takes effect in 2026. Democrats pushed through the Medicare negotiating program last summer as a provision of the Inflation Reduction Act, framing it as a way to lower drug prices. Only certain drugs will be subject to negotiation with…
Read MoreMerck sues Biden administration over Medicare drug pricing talks
Merck is suing the Department of Health and Human Services over Medicare’s new powers to reduce drug prices under the Inflation Reduction Act. In a scathing complaint filed in federal district court, Merck criticized the negotiation process as a “false” and “amounting to extortion.” Merck has asked the US District Court for the District of Columbia to prevent HHS from forcing the company into a deal that cuts prices. Jakub Porzycki | Nur picture | Getty Images Global drugmaker Merck on Tuesday sued the Biden administration over Medicare’s new powers…
Read MoreDoes Medicare Cover Ozempic?
(NerdWallet) – Ozempic, a drug used to treat type 2 diabetes, has gone viral as a weight-loss drug. The hashtag #ozempic has over a billion views on TikTok, and more people search the web for Ozempic than insulin, Viagra or Tylenol, according to Google Trends data for May 2023. HPD: Driver who caused fatal 7-vehicle wreck fled on foot Medicare beneficiaries interested in the drug may be surprised to see that it is often covered under Medicare Part D. It is one of the prescription drugs for which Medicare, the…
Read MoreSocial Security, Medicare, Federal Salaries: What payments can be delayed if the debt ceiling stalls
The US reached its debt ceiling, or debt limit, in January. The nation could run out of money to pay all of its bills as soon as June 1, the so-called “X-date.” The government would not be able to pay everyone on time. It would likely prioritize payments to investors holding US Treasuries, to avoid a “technical default.” Payments like Social Security, Medicare, tax refunds, military paychecks, and others would likely be delayed. Democrats and Republicans have not yet reached an agreement to raise or suspend the debt ceiling and…
Read More