Supreme Court Upholds Medicare Drug Price Negotiation, Dealing Setback to Bristol-Myers Squibb, Amgen, and AbbVie
The US Supreme Court has ruled against the pharmaceutical industry's challenge to the Biden-era Medicare Drug Price Negotiation Program, cementing the government's authority to mandate price reductions on high-cost drugs, with Bristol-Myers Squibb, Amgen, and AbbVie among the companies most exposed to negotiated price cuts on key products.