Investor Statement Regarding Pharma Medicare Lawsuit

ICCR Comment/Sign On Letters

On August 31, 2023 investors released a statement voicing deep concern about lawsuits brought by pharma companies and trade groups to block the U.S. government’s ability to negotiate fair drug prices for Medicare beneficiaries.

The statement, which was endorsed by more than 30 institutional investors, is being sent to Astellas Pharma, Inc. ($ALPMY), AstraZeneca ($AZN), Bristol-Myers Squibb Company ($BMS), Johnson & Johnson ($JNJ), and Merck & Co, Inc. ($MRK) as well as trade associations PhRMA and the U.S. Chamber of Commerce, which each filed lawsuits against the Department of Health & Human Services (HHS) and the Centers for Medicare and Medicaid Services (CMS). While the lawsuits highlight a variety of grievances – from “extortion” to “compulsory speech”, they share a common theme: that the government’s attempt to negotiate prices on behalf of millions of Medicare recipients is “unconstitutional”.

Julie Wokaty

Read our Statement

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Investor Statement Regarding Pharma Medicare Lawsuit

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