From CNBC: 2024-04-29 18:49:56

A federal judge in New Jersey rejected Johnson & Johnson and Bristol Myers Squibb’s legal challenges to Medicare drug-price negotiations, ruling it’s constitutional. The decision is a win for the Biden administration and weakens the pharmaceutical industry’s strategy. Final prices for the first round of drugs subject to negotiations will take effect in 2026. J&J and Bristol Myers Squibb did not respond to comments on the ruling. Judge Zahid Quraishi stated that participation in negotiations is voluntary, not a confiscation of drugs by the government. Other drugmakers had similar lawsuits challenging the negotiations dismissed in other states.



Read more at CNBC: J&J, Bristol Myers Squibb lose Medicare drug-price talks challenges