Drugmakers to push Trump to pause price negotiations, Bloomberg reports

Several large drugmakers will ask the Trump administration to pause Medicare drug price negotiations, even as Biden-appointed officials prepare a new list of medicines that should be targeted, Bloomberg’s Madison Muller, Cynthia Koons, and Josh Wingrove report. “They need to fix ” before negotiating down the price of more drugs, Eli Lilly (LLY) CEO Dave Ricks said on the sidelines of the JPMorgan Healthcare Conference. The IRA currently allows the U.S. government to pay lower prices on older drugs and the outgoing administration is planning to release a list of the next set of drugs eligible for negotiation before leaving office, a person familiar with the matter said. Novo Nordisk’s (NVO) Ozempic and Wegovy are among those that are likely to be on the list of new government targets, according to the report. Other publicly traded companies in the space include AstraZeneca (AZN), Bristol Myers (BMY), GSK (GSK), Johnson & Johnson (JNJ), Merck (MRK), Novartis (NVS), Pfizer (PFE), Roche (RHHBY) and Sanofi (SNY).