The dishonestly named “Inflation Reduction Act” creates an explicit price controls mechanism for prescription drugs under Medicare. This unravels the market protection mechanism in the Medicare Prescription Drug Benefit known as the nonintervention clause. IPI Resident Scholar Dr. Merrill Matthews explains how these price controls will be harmful to prescription drug innovation, and the constitutional grounds on which a legal challenge by Merck might be successful. With IPI President Tom Giovanetti.
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