J&J, Bristol Myers lose challenges to US drug price negotiation program

[BumRushDaShow]

Source: Reuters

April 29, 2024 5:58 PM EDT Updated 11 hours ago


April 29 (Reuters) - A U.S. judge on Monday rejected a challenge by Bristol Myers Squibb (BMY.N) and Johnson & Johnson (JNJ.N) to a law requiring them to negotiate the prices of their blockbuster blood clot prevention drugs with the U.S government's Medicare health insurance program or pay heavy penalties.

U.S. District Judge Zahid Quraishi in Trenton, New Jersey, became the fourth federal judge to uphold the program, one of Democratic President Joe Biden's signature initiatives, against drug industry challenges, rejecting their argument that it was an illegal taking of their property.

"In short, defendants are not taking drugs from plaintiffs," Quraishi wrote, adding that they were free to stop participating in Medicare if they did not want to negotiate.

The drugmakers did not immediately respond to requests for comment, though Bristol Myers has already filed a notice in court that it was appealing the ruling. Drugmakers have argued that it is not feasible to withdraw from Medicare because it represents nearly half the U.S. prescription drug market.

Read more: https://www.reuters.com/legal/jj-bristol-myers-lose-challenges-us-drug-price-negotiation-program-2024-04-29/

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[JohnnyRingo]

1. I just renewed my Eliquis from Bristol Myers.

The Medicare copay was $830 for three months. If I want one month it was $500+. It's $1000 or so over the counter.
Fortunately, the case worker at dialysis did the work to get it for free as I'm poor enough to qualify. Affording help to people who can't pay is a stipulation for being in the Medicare program.

This is an older statement for one month of pills. It went up this year:

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[Seinan Sensei]

7. The Eliquis people can f**k themselves

A generic Eliquis already has been approved by FDA
But the generic cannot go to market because of Bristol-Myers' evergreening (extending patent of) Eliquis.
F**k them and the patent they rode-in on.

[Hermit-The-Prog]

2. Waiting for the Subversive Court to force the feds to agree to whatever the almighty Corps desire

Something in the code of Hammurabi surely requires profit per life shall equal the value of a lifetime of work.

Robber Baron Roberts will not be able to accept that a corporation lost a lawsuit.

[jimfields33]

3. I doubt the Biden administration will appeal to the Supreme Court

I believe that’s the only way for the Supreme Court to get involved.

[Hermit-The-Prog]

4. You may have missed this part...

Bristol Myers has already filed a notice in court that it was appealing the ruling.

[jimfields33]

5. Oh brother. Thanks.

[republianmushroom]

6. Good

[PuppyBismark]

8. I have Aetna Medicare Advatage and pay $75.00 for three months for Eliquis after deductable

It really matters what insurance you have. The first time I order it each year I pay $325.00 to meet my deductible, but after then, it is $75 for three months' supply. There will not be a generic Eliquis for a while as it has to run for 20 years.

[Stargazer99]

9. Meanwhile people suffer - it is about time to quit worshiping business

[JohnnyRingo]

10. I looked into Medicare Advantage.

I can get meds cheaper but I'd have to pay a third of my dialysis treatments. That's something like $15,000 a month.
That's how they getcha.

[hueymahl]

11. Fantastic!

However, expect political donations to triple this year as the drug makers try to buy off congress.