The U.S. Chamber of Commerce has asked a federal judge in Ohio to block the implementation of the “Medicare Drug Price Negotiation Program” established under the Inflation Reduction Act (IRA).
President Joe Biden signed the IRA into law in August 2022, enabling Medicare to directly negotiate drug prices for certain costly medications. The program has the potential to save Medicare nearly $100 billion between 2026 and 2031, according to estimates from the Congressional Budget Office (CBO).
In a motion filed on Wednesday, the Chamber of Commerce argued that its members would “suffer unrecoverable economic losses” if an injunction against the program was not ordered. The Chamber filed its lawsuit in June in the southern district of Ohio….