Biotech Values

[DewDiligence]

PhRMA trade group sues US regarding IRA:

https://finance.yahoo.com/news/1-pharmaceutical-trade-group-sues-154152138.html

The Pharmaceutical Research and Manufacturers of America (PhRMA), the leading industry lobby group, and two other organizations on Wednesday said they were suing the U.S. government to block enforcement of a program that gives Medicare the power to negotiate drug prices.

In a complaint filed in a federal court in Texas, PhRMA along with the National Infusion Center Association and the Global Colon Cancer Association, which counts PhRMA and some drug companies as members, said the drug price negotiation program was unconstitutional.

This marks the fourth lawsuit challenging the law, which is part of President Joe Biden’s signature Inflation Reduction Act (IRA), after separate legal challenges by Merck & Co [#msg-172068691], Bristol Myers Squibb [#msg-172157782], and the influential business group the U.S. Chamber of Commerce [#msg-172101469].

…The latest lawsuit argues that the "unrestrained authority" given to the Department for Health and Human Services (HHS) by Congress conflicts with the United States' separation-of-power principle.