The Inflation Reduction Act (IRA) is the centerpiece of the Biden administration’s agenda to address the spiraling drug prices that have long burdened the American healthcare system. The following paper examines the IRA, particularly its provisions that permit the Centers for Medicare & Medicaid Services (CMS) to negotiate drug prices with pharmaceutical manufacturers. Some have celebrated this move as a victory over “Big Pharma." However, others have criticized the IRA as a potential infringement on their constitutional rights and a threat to medical innovation. Through a detailed analysis of the Fifth Amendment’s Takings Clause challenge to the IRA, the paper argues that the IRA's drug pricing provisions are not a taking under the Fifth Amendment.