Bristol Myers Squibb Co on Friday sued the U.S. government in an attempt to halt the Medicare drug price negotiation program that analysts believe will involve one of its top-selling medicines, saying it violates the Fifth and First Amendments to the U.S. Constitution.
to be among 10 drugs initially selected in September for negotiating prices that would take effect in 2026.
The company asserts this violates the Fifth Amendment, which requires the government to pay reasonable compensation for private property taken for public use. Bristol Myers also argues that the law forces manufacturers to publicly state that the government's “price setting” is a true negotiation that results in a fair price, even when it is not.
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