Bristol Myers Squibb sues Biden administration over Medicare drug negotiations

Bristol Myers Squibb on Friday sued the Biden administration over Medicare’s new powers to negotiate drug prices, the third such lawsuit to be filed against the program in a matter of days.

The lawsuit, filed in federal district court in New Jersey, argues that the Medicare negotiations violate the First and Fifth Amendments of the U.S. Constitution.

The drugmaker has asked the court to declare the program unconstitutional and prevent the Health and Human Services Department from forcing the company to enter negotiations.

Bristol Myers Squibb’s arguments mirror those lodged by drugmaker Merck last week, which was the first company to sue the federal government of the drug negotiations.

The U.S. Chamber of Commerce has also sued HHS over the program with similar arguments.

This is breaking news. Please check back for updates.