Inflation Reduction Act provision was set to lower drug costs for millions of retirees
Pharmaceutical company Merck sued the federal government over the Inflation Reduction Act provision that allows Medicare to negotiate drug prices—a law that could help millions of older Americans save hundreds of dollars, if not more, on their medical needs.
Approximately 3.5 million Americans 65 and older had trouble paying for their medicine in 2019, a 2022 study from the U.S. Department of Health and Human Services reported. More than 2 million older Americans did not get the prescriptions they needed as a result. Merck argued in its lawsuit, filed on Tuesday in Washington, D.C.’s U.S. District Court, that the new law is “tantamount to extortion,” and that it violates the company’s First and Fifth Amendments under the U.S. Constitution.
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