Supreme Court Upholds Medicare Drug Price Negotiations, Rejects Big Pharma Appeals
The U.S. Supreme Court rejected appeals from major drugmakers challenging a program requiring them to negotiate drug prices with Medicare. This decision upholds lower court rulings supporting the program, part of the 2022 Inflation Reduction Act, which allows Medicare to negotiate prices for certain drugs. The program aims to reduce costs for the federal government and Medicare beneficiaries. Drugmakers argued that the program violates their rights, but courts have ruled that participation in Medicare is voluntary. The first round of negotiations is expected to save $6 billion for the government and reduce out-of-pocket costs for seniors by $1.5 billion. 
