Judge withdraws from Medicare drug price case after stock ownership is revealed

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Judge withdraws from Medicare drug price case after stock ownership is revealed
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Judge Thomas Rose of the U.S. District Court for the Southern District of Ohio withdrew from a case that could block Medicare's drug price negotiation program.

"Given the ethics concerns that your apparent conflict of financial interests in the pharmaceutical industry raise, we call on you to recuse yourself," wrote the group.that will be subject to price negotiations this year, according to a list unveiled Tuesday by the Biden administration.

Rose, who was appointed by Republican president George W. Bush, owns between $15,000 and $50,000 worth of J&J stock, and shares in AstraZeneca worth up to $15,000, according to his 2022 financial disclosure form. He also ownsUntil he withdrew on Friday, Rose was the presiding judge in a lawsuit brought in June 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 unleashed a torrent of lawsuits this summer in an effort to strip Medicare of its new powers.

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