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…
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Global debt nears record high as rate hikes trigger ‘adjustment crisis’ says top trade body
The IIF said the combination of such high debt levels and rising interest rates has caused the cost of servicing that debt to rise, triggering concerns about leverage in the financial system. “At nearly $305 trillion, global debt is now $45 trillion above its pre-pandemic level and is expected to continue to increase rapidly,” the IIF said. HIROSHIMA, JAPAN – MAY 17 : People walk under a banner promoting the Group of 7 (G7) summit at a shopping street on May 17, 2023 in Hiroshima, Japan. The G7 summit will…
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