Pharma cos criticize Trump’s drug price negotiation plan, Bloomberg Law reports

The pharmaceutical industry is criticizing the Trump administration’s plan for carrying out a critical round of Biden-era drug price negotiations that doubles down on actions they’ve resisted since the program began, Bloomberg Law’s Nyah Phengsitthy reports. The pushback was revealed in comments in response to the Centers for Medicare & Medicaid Services’ draft guidance for the third cycle of the drug price negotiation program. This next round round of talks is slated to begin in 2026 and target 15 additional drugs, the report notes. Publicly traded companies in the space include AstraZeneca (AZN), Bristol Myers (BMY), Eli Lilly (LLY), GSK (GSK), Johnson & Johnson (JNJ), Merck (MRK), Novartis (NVS), Pfizer (PFE), Roche (RHHBY) and Sanofi (SNY).