AstraZeneca Fights Back Against Biden’s Move to Cap Drug Prices

AstraZeneca Plc said it’s suing the US over legislation that will allow the government to negotiate prescription drug prices with pharmaceutical companies, claiming it is already forcing it to scale back investment in rare diseases and cancers.

The UK company, which makes 40% of its revenue in the US, is the largest non-US drugmaker to launch such a legal claim. It warned the new laws would prevent manufacturers from investing in new therapies.

Dave Fredrickson, executive vice president of oncology at Astra, said in an interview that the critical parts of the Inflation Reduction Act would have an “unintended ...