Astellas withdraws lawsuit challenging Medicare drug price negotiation plans

Source: Reuters

Astellas withdraws lawsuit challenging Medicare drug price negotiation plans

Reuters
Wed, September 6, 2023 at 2:19 PM EDT·1 min read

(Reuters) - Japan-based Astellas Pharma on Wednesday withdrew a lawsuit filed against the U.S. government, days after its prostate cancer drug was spared from the first list of drugs that will be subject to Medicare price negotiations.

The U.S. government, late last month, selected the first 10 drugs, including the top-selling blood thinner Eliquis from Bristol Myers Squibb and Pfizer, which will face price negotiations as part of President Joe Biden's Inflation Reduction Act.

Several analysts had expected Astellas' prostate cancer drug to be part of the list.

Astellas filed a lawsuit in July against the U.S. government, which was one of several similar challenges filed to block price negotiations, arguing that the law and forced price cuts would violate various amendments to the U.S. constitution.

"Our decision to withdraw the case does not change our fundamental belief ...

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