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Chamber of Commerce asks judge to block Medicare drug price negotiations before October - TL;DR CNBC

Chamber of Commerce asks judge to block Medicare drug price negotiations before October

Publishing timestamp: 2023-07-12 18:29:02


Summary

The U.S. Chamber of Commerce has asked a federal judge to block Medicare's new powers to negotiate drug prices before October 1. The Chamber argues that these negotiations violate the due process clause of the U.S. Constitution. Drugmaker Abbvie, a member of the Chamber, is concerned that its blood cancer drug Imbruvica will be selected for price negotiations. The Chamber is seeking a preliminary injunction to halt the negotiations before they begin.


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Keywords: bristol-myers squibb cou.s. economyhealth care industrybiotechnologybreaking news: businesspoliticsbiotech and pharmaceuticalsbusinessabbvie incmerck & co incbusiness news

Source: https://www.cnbc.com/2023/07/12/chamber-of-commerce-asks-judge-to-block-medicare-drug-negotiations.html


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