Why it matters: Pharmaceutical companies continue to fight attempts to make prescription drugs affordable.

The battle for reasonable and market driven prescription drug prices continues even as Medicare readies to negotiate prices for the top 10 most expensive drugs this fall.

Big Pharma is suing to stop it.

This affects every American, whether your parents or your children take needed — and in some cases, life-saving — medicine, or you know someone who does.

The lobby group that represents pharmaceutical manufacturers (Pharmaceutical Research and Manufacturers of America), the U.S. Chamber of Commerce, Merck & Co. and Bristol Myers Squibb have sued in four different federal courts to put a halt to the plan for Medicare to begin negotiating prescription drug prices.

They’re seeking a friendly judge to issue an injunction on the plan, under which Medicare will initially negotiate a small number of prescription drugs. The plan also calls for drug companies to pay rebates if prescription drug prices rise more than the rate of inflation. This modest start of prescription drug price negotiation was part of the Inflation Reduction Act passed last year by Congress and signed by the president.

Lowering prescription drug prices has been supported by both Democrats and Republicans for years. Former President Donald Trump vowed in blustery speeches to lower prescription drug prices but ultimately did nothing. But no Republican voted for the Inflation Reduction Act, including 3rd District Congressman Michael Guest and Sens. Rodger Wicker and Cindy Hyde-Smith.

The non-partisan Congressional Budget Office predicts the prescription drug provisions will lower the deficit by $237 billion over 10 years. U.S. prices are sometimes 10-times higher than other developed countries, according to a report by Kaiser Family Foundation Health News.

The multiple lawsuits indicate the size of the stakes. They will argue the prescription drug price provisions are an unconstitutional transfer of power from Congress to the executive branch, an “excessive fine” under the 8th Amendment, and were done without proper public input (citing the 5th Amendment).

Legal experts have said their case is weak, but even a delay would preserve the industry’s billions in profits.

Pharmaceutical manufacturers also say the cuts to their revenues will prevent them from getting the latest, life-saving drugs to market and crimp their ability to do expensive research.

But some industry players don’t seem that concerned about money.

Last August Pfizer spent about $5.4 billion to buy Global Blood Therapeutics with cash accumulated during the COVID-19 pandemic, according to The Associated Press. Pfizer bought Biohaven last May for $11.6 billion. The company purchased Arena Pharmaceuticals for $6.7 billion in December of 2021.

The company’s chief business and innovation officer, Aamir Malik, said the company is “leaving very few stones unturned” in looking for expansion opportunities in communications to investors.

It’s difficult for American citizens to fight huge corporations with endless legal resources, but local members of Congress should be on the side of consumers charged unfair and outrageous prices for prescription drugs.

And if Congress is serious about making Medicare solvent into the future, it should allow and encourage the government to conduct good faith negotiations on prescription drugs.

CNHI News Service

Pharmaceutical companies continue to fight attempts to make prescription drugs affordable.