J&J, Bristol Myers Squibb Lose Biden Drug Price Plan Lawsuits

Johnson & Johnson and Bristol Myers Squibb Co.'s bids to block a government drug price-setting program were dismissed by a federal judge Monday.

The manufacturers’ claims that the Medicare Drug Price Negotiation Program violates the First Amendment compelled speech doctrine and Fifth Amendment takings clause were tossed by Judge Zahid N. Quraishi of the US District Court for the District of New Jersey.

The drugmakers argued that the program forces them to sign a contract and agree to a maximum fair price ultimately set by Medicare, and that the pricing scheme is a taking backed by a tax penalty. Johnson ...