Pharma Companies to Negotiate Medicare Drug Prices Despite Lawsuit, Citing 'No Choice'

Pharma companies agree to negotiate Medicare drug prices despite suing over the requirement, saying they have "no choice."
Merck, AstraZeneca, Bristol Myers Squibb, and Boehringer Ingelheim make some of the 10 drugs selected for initial negotiations.
If companies reject negotiations, they face excise taxes up to 95% of sales or having to pull drugs from Medicare/Medicaid.
Merck and Bristol Myers Squibb said they had "no choice" but to negotiate despite disagreeing.
First negotiated prices will be published by Sept 2024 and take effect Jan 2026.

arstechnica.com

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Posted 9/29/2023, 6:55:29 PM