The U.S. Supreme Court has rejected appeals from drug manufacturers challenging Medicare's new drug price negotiation program, allowing the program to continue.
- The program, part of the Inflation Reduction Act, allows Medicare to negotiate prices for certain high-cost drugs. - Drugmakers argued the program violated their constitutional rights by forcing them to accept lower prices.
- The decision is a victory for the Biden administration and consumer advocates seeking lower prescription drug costs. - The ruling could lead to reduced drug prices for millions of seniors enrolled in Medicare.