An overlooked but significant component of the Inflation Reduction Act is a provision giving Medicare the ability to negotiate the price of drugs with pharmaceutical companies, a tool for reducing drug costs long sought after by progressives. Now, the pharma industry is fighting back. Individual drug companies like Merck and Bristol Myers filed lawsuits earlier this month, and today The Hill is reporting PhRMA, the drug industry's lobbying group, has filed its own suit, claiming the law violates the constitutional rights of drug companies. |