Johnson & Johnson announced on Tuesday in a statement that it has filed a lawsuit against the Biden Administration over Medicare's Drug Price Negotiation Program. This is the third pharmaceutical company suing the United States government over the issue, following Merck & Co. Inc. and Bristol-Myers Squibb Co.
"The IRA [Inflation Reduction Act] breaks the agreement at the heart of the patent and regulatory laws: when companies invest and succeed at developing innovative new treatments, they are awarded time-limited and constitutionally protected rights in their innovation," J&J said. The company added that breakthroughs in its research were only possible due to the $65.7 billion invested in the research and development sector since 2016.
J&J warned that having to offer patented medicines at lower prices could lead to constrained innovation, while patients would be met with limited access and choice, which would then "negatively impact the overall quality of patient care."
