June 06, 2023
Merck Lawsuit Over Drug Price Negotiation Reflects Industry Greed and Disregard for Seniors and Taxpayers
The following statement was issued by Richard Fiesta, Executive Director of the Alliance for Retired Americans, regarding Merck’s filing a lawsuit to block Medicare from negotiating lower drug prices on behalf of the American people.
“Merck’s ridiculous lawsuit is the equivalent of a toddler throwing a temper tantrum.
“Americans pay the highest prices in the world for prescription drugs and too many seniors must choose between putting food on the table and paying for their medicine. That is because corporations like Merck have been allowed to charge taxpayers whatever they want for their drugs.
“Negotiating a fair price for drugs — or any product — is nothing new and is a hallmark of a free market economy. Governments around the world negotiate drug prices on behalf of their citizens every day, as do insurance companies. In the United States, the Departments of Defense and Veterans Affairs and the Medicaid program already negotiate prices with Merck and the rest of the industry.
“The Inflation Reduction Act simply extends this power to Medicare and once implemented it will save taxpayers and patients $25 billion. We cannot go backward.
“The 4.4 million members of the Alliance for Retired Americans call on Merck and the rest of the drug industry to stop crying crocodile tears and come to the negotiating table in good faith.”
Contact: David Blank, email@example.com