Health
AstraZeneca Fights Back Against Biden’s Move to Cap Drug Prices
- Cancer drug chief says change will hit rare disease research
- Inflation Reduction Act to cut Medicare costs by $100 billion
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AstraZeneca Plc said it’s suing the US over legislation that will allow the government to negotiate prescription drug prices with pharmaceutical companies, claiming it is already forcing it to scale back investment in rare diseases and cancers.
The UK company, which makes 40% of its revenue in the US, is the largest non-US drugmaker to launch such a legal claim. It warned the new laws would prevent manufacturers from investing in new therapies.