🧵 1. The Biden-Harris administration unveils drug price negotiations under the Inflation Reduction Act, claiming economic success and applauding the initiative. #business
🧵 1. The Biden-Harris administration unveils drug price negotiations under the Inflation Reduction Act, claiming economic success and applauding the initiative. #business
🧵 2. Pharmaceutical companies challenge the unconstitutional nature of the IRA’s drug price controls, citing coercion to accept massive discounts.
🧵 3. The program targets 60 successful medications with the first 10 drugs selected for price controls, affecting treatments for various health conditions.
🧵 4. Estimated impact of the IRA includes a loss of new drugs over 30 years, leading to potential reduction in drug development and years of life lost.
🧵 5. While the government argues participation in the DPNP is voluntary due to Medicare's role, pharmaceutical companies face significant pressure to comply.
🧵 Read more at: https://www.zerohedge.com/political/iras-unconstitutional-drug-price-controls