Eli Lilly, Pfizer Back Teva Fight of US Drug Price Negotiations

Eli Lilly & Co., Pfizer Inc., and other pharmaceutical giants are backing a legal battle against the Medicare agency’s drug price negotiation plan, defending a fight against how drugs are selected for the program.

The manufacturers—joined by Johnson & Johnson, Sanofi SA, Bausch Health Companies Inc., and the Biotechnology Innovation Organization—filed a proposed amicus brief March 14 in the case between Teva Pharmaceuticals Inc. and the Centers for Medicare & Medicaid Services over whether the price-setting program violates federal laws and harms industry innovation.

The Biden-era plan allows the US government to slash the cost ...