Merck has likened the government’s stance to a veiled threat, akin to “extortion.”
The Administration’s Response
Echoing the sentiment of a dramatic duel, President Joe Biden lauded the Inflation Reduction Act, crediting it as a landmark law achieved through the sheer determination of the Democrats.
Biden’s assertion was clear, “We took on Big Pharma and emerged victoriously.”
Yet, voices from the pharmaceutical realm, like Stephen J. Ubl, the helmsman of trade group Pharmaceutical Research and Manufacturers of America, criticize the initiative as a fleeting political move, cautioning of its potential long-term repercussions.
Ripple Effects & Legal Fireworks
Beyond the cited companies, legal pushback also stems from Astellas Pharma and AstraZeneca.
The former argues the new power would stifle innovation, while the latter believes it might derail the Orphan Drug Act’s objectives.
The spotlight also beams on other drugs like Farxiga, Entresto, Enbrel, Imbruvica, Stelara, and both insulin variants, Fiasp and Novolog.
