Judge rejects J&J, Bristol Myers Squibb challenges to Medicare drug price negotiations
BMYBristol-Myers Squibb(BMY) CNBC·2024-04-30 06:22

A federal judge in New Jersey on Monday rejected Johnson & Johnson and Bristol Myers Squibb's legal challenges to the Biden administration's Medicare drug price negotiations, ruling that the program is constitutional. The decision is another win for the Biden administration in a bitter legal fight with several drugmakers over the price talks. The ruling also weakens the pharmaceutical industry's strategy of seeking split decisions in lower courts scattered across the U.S., which could escalate the issue to ...