PhRMA's lawsuit is the fourth legal challenge to the law after separate suits from Merck, Bristol Myers Squibb and the U.S. Chamber of Commerce.
– who are also represented by PhRMA – and the U.S. Chamber of Commerce filed separate lawsuits against the provision earlier this month.
PhRMA and the two organizations also argue that the provision includes a "crippling" excise tax aimed at forcing drugmakers to accept the government-dictated price of medicines, making it an excessive fine prohibited by the Eighth Amendment. "The price setting scheme in the Inflation Reduction Act is bad policy that threatens continued research and development and patients' access to medicines," PhRMA CEO Stephen Ubl said in a statement.
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