Merck Fighting for Rights, Market-based Health Care
Pharmaceutical giant Merck announced last week that it is taking the federal government to court over the Inflation Reduction Act’s drug pricing reforms. The lawsuit alleges that the law’s Medicare price negotiation program violates some of the most fundamental rights guaranteed by the U.S. Constitution.
“This is not ‘negotiation,'” the company says in its official complaint. “It is tantamount to extortion.”
Such strong language is justified. The IRA’s price controls represent an unprecedented act of government intervention into the prescription drug market — one that is certain to derail an innovative sector of our economy and deprive present and future patients of medical breakthroughs.Read More