![]() Bourla said he is also not optimistic that Congress will act to change the law.ĭrugs likely to be among the first subject to negotiation include Pfizer's breast cancer treatment Ibrance and the blood thinner Eliquis, which Pfizer shares with Bristol Myers Squibb (BMY.N).īourla did acknowledge some positive aspects of the law for patients, such as lower out-of-pocket costs for medicines.Ī spokesperson for the U.S. "I think that there will be legal action," he said, adding that he was not sure if that would stop the plan before new prices would go into effect in 2026. plan, Reuters reported earlier this week. The companies have begun laying the groundwork to fight the U.S. The pharmaceutical industry says the law, passed last year, will result in a loss of profits that will force drugmakers to pull back on developing groundbreaking new treatments. The law aims to save $25 billion through price negotiations by 2031 for Americans who pay more for medicines than any other country. It is price setting," Bourla said at a Reuters newsmaker event on Thursday, referring to the Biden Administration’s signature drug pricing reform, part of the Inflation Reduction Act (IRA). plans to negotiate drug prices for its Medicare health program "negotiation with a gun to your head" and said he expects drugmakers to sue in an attempt to halt the process. May 11 (Reuters) - Pfizer Inc (PFE.N) Chief Executive Albert Bourla called U.S.
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