Michael Cannon at Cato makes the argument that the IRA isn’t a takings from Merck, it’s merely reducing the taxpayer subsidy that should be closer to $0. Merck is free to walk away if it feels the deal is unfair. https://www.cato.org/blog/medicare-not-taxing-or-coercing-merck-just-reducing-its-government-subsidies
Alain Enthoven maintained in a brief analysis published by the NCPA that bargaining power results from the freedom and willingness to walk away from a deal. If Medicare is willing to exercise that power and Merck is willing to exercise that power then the two could come to an agreement. http://www.ncpathinktank.org/pdfs/ba575.pdf
Michael Cannon at Cato makes the argument that the IRA isn’t a takings from Merck, it’s merely reducing the taxpayer subsidy that should be closer to $0. Merck is free to walk away if it feels the deal is unfair.
https://www.cato.org/blog/medicare-not-taxing-or-coercing-merck-just-reducing-its-government-subsidies
Alain Enthoven maintained in a brief analysis published by the NCPA that bargaining power results from the freedom and willingness to walk away from a deal. If Medicare is willing to exercise that power and Merck is willing to exercise that power then the two could come to an agreement. http://www.ncpathinktank.org/pdfs/ba575.pdf