Merck & Co. sued the U.S. government Tuesday, seeking an injunction of the drug price negotiation program contained in the Inflation Reduction Act.

This is the first attempt by a drugmaker to challenge the law, which the pharmaceutical industry says will result in a loss of profits that will force them to pull back on developing groundbreaking new treatments. The Biden administration’s drug pricing reform aims to save $25 billion annually by 2031 through price negotiations for Medicare.

Read More:  Newsmax