And the groups are correct, as a factual matter.
As a political matter, there are certainly large Wall Street firms who will champion the idea of gouging seniors for gargantuan profits -- as has been the state of affairs for now over a half century. Who will win out? I would not bet against big pharma here, as to the politics -- even if it loses on the law. Here's the story:
. . .Investors at the ICCR are in favor of the pricing measures Merck is challenging. Its members of the group have “long advocated” for Medicare’s ability to negotiate drug prices, the group said in a recent statement.
“The IRA seeks to install fair and transparent guardrails. . . that will dismantle monopolies and make drugs more affordable for our seniors,” ICCR member Christina Dorett said in the group's statement.
Under the IRA, the federal government will begin negotiating prices on certain drugs in 2026. The new law also enables the government to dish out penalties for price hikes that outpace inflation.
But the ICCR shareholders are looking to turn the company's argument on its heels [as set out in Merck's presser materials on the topic]. . . . In Merck's own Access to Health Principles, the company states that it “develops, tests and implements innovative solutions that address barriers to access and affordability. . . ."
We shall wait and see about that last bit.
I think Mr. Davis has bitten off more than he can chew here (at least in the federal district courthouse in DC).
Out, now. . . grinning, with my baby girl home for a few weeks. On to Oregon, for graduations -- by Saturday!
नमस्ते
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