Judge rejects J&J, Bristol Myers Squibb challenges to Medicare drug-price negotiations
Publishing timestamp: 2024-04-29 21:31:06
Summary
A federal judge in New Jersey rejected legal challenges from Johnson & Johnson and Bristol Myers Squibb against the Biden administration's Medicare drug-price negotiations, ruling the program is constitutional. This decision is a win for the White House in a legal battle with drugmakers and weakens the pharmaceutical industry's strategy of seeking split decisions in lower courts. The negotiations aim to make costly medications more affordable for seniors and could impact drugmakers' profits.
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Keywords: bristol-myers squibb co, business, business news, social issues, pharmaceuticals, joe biden, johnson & johnson, health care industry, biotech and pharmaceuticals, government and politics, biotechnology,