Judge withdraws from case on Medicare drug price negotiations

One sentence summary – Judge Thomas M. Rose has withdrawn from a case that could impact Medicare’s ability to negotiate drug prices, raising concerns due to his ownership of stock in pharmaceutical companies affected by the program, while the pharmaceutical industry’s legal challenges to Medicare’s new powers highlight the significance of this development.

At a glance

  • Judge Thomas M. Rose has withdrawn from a case that could impact Medicare’s ability to negotiate drug prices.
  • Concerns have been raised about Rose’s ownership of stock in pharmaceutical companies Johnson & Johnson and AstraZeneca.
  • J&J’s Xarelto and AstraZeneca’s Farxiga are among the drugs subject to price negotiations this year.
  • Rose owns shares in J&J worth between $15,000 and $50,000, as well as shares in AstraZeneca valued up to $15,000.
  • The pharmaceutical industry is actively challenging Medicare’s new powers and aims to take the case to the Supreme Court.

The details

Judge Thomas M. Rose of the U.S. District Court for the Southern District of Ohio has recently withdrawn from a case that could potentially prevent Medicare from negotiating drug prices.

This development has sparked concerns as the Revolving Door Project, a nonprofit organization, has pointed out Rose’s ownership of stock in two pharmaceutical companies.

These companies, Johnson & Johnson (J&J) and AstraZeneca, would both be affected by the new Medicare program.

Among the 10 drugs that are subject to price negotiations this year, J&J’s Xarelto and AstraZeneca’s Farxiga are included.

Judge Rose owns shares in J&J worth between $15,000 and $50,000.

He also has shares in AstraZeneca valued up to $15,000.

Judge Rose’s involvement in this case is significant as he was the presiding judge in a lawsuit brought by the U.S. Chamber of Commerce.

This lawsuit was against the Department of Health and Human Services and the Centers for Medicare and Medicaid Services.

The pharmaceutical industry has been actively pursuing legal action to challenge Medicare’s new powers.

Their ultimate goal is to take the case to the Supreme Court.

Merck CEO Robert Davis has confirmed their intention to bring their lawsuit to the Supreme Court.

The U.S. Chamber of Commerce had requested Judge Rose to block the program by October 1.

This date is the deadline for drugmakers to sign agreements to participate in the negotiations.

Judge Thomas M. Rose’s withdrawal from the case involving Medicare’s drug price negotiations has drawn attention due to his ownership of stock in pharmaceutical companies affected by the program.

The pharmaceutical industry’s legal challenges to Medicare’s new powers, including the intention to take the case to the Supreme Court, further underscore the significance of this news story.

All the information provided in this news article is based on the available facts and does not reflect any personal opinions or biases.

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A judge’s gavel resting on a table, symbolizing their withdrawal from a case on Medicare drug price negotiations.

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cnbc.com
– Judge Thomas M. Rose of the U.S. District Court for the Southern District of Ohio withdrew from a case that could block Medicare from negotiating drug prices.
The Revolving Door Project, a nonprofit, raised concerns about Rose’s ownership of stock in Johnson & Johnson and AstraZeneca, two pharmaceutical companies impacted by the new program.
– J&J’s Xarelto and AstraZeneca’s Farxiga are among the 10 drugs subject to price negotiations this year.
– Rose owns between $15,000 and $50,000 worth of J&J stock and shares in AstraZeneca worth up to $15,000.
– Rose was the presiding judge in a lawsuit brought by the U.S. Chamber of Commerce against the Department of Health and Human Services and the Centers for Medicare and Medicaid Services.
The pharmaceutical industry has filed multiple lawsuits to strip Medicare of its new powers, with the aim of reaching the Supreme Court.
– Merck CEO Robert Davis confirmed the company’s plan to take its lawsuit to the Supreme Court.
The Chamber had asked Rose to block the program by October 1, the deadline for drugmakers to sign agreements to participate in the negotiations.

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