Novartis (NVS) has filed a lawsuit accusing the Biden administration of unlawfully preventing the company from changing payment terms to some hospitals that participate in the 340B Drug Discount Program. In its lawsuit, the company argued the U.S. Health Resources and Services Administration wrongfully interpreted a federal law concerning the use of rebates in the program. Novartis sells the Entresto heart drug, which was selected by Medicare for price negotiations. The agency wants manufacturers to ensure the 340B discount and maximum fair price under the Inflation Reduction Act are not applied to the same drug.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NVS:
- Drugmakers to push Trump to pause price negotiations, Bloomberg reports
- Schrodinger expands pact with Otsuka, receives clearance for Novartis pact
- Novartis Entresto U.S. patent upheld by Court of Appeals
- Illumina launches pilot proteomics program with UK Biobank, collaborators
- Biogen appoints Feire as Head of Business Development and External Innovation