All entries for: Negative Outlook

October 29, 2024

Pfizer

Negative Outlook

New York, NY
50,001+ employees

Albert Bourla, chairman and chief executive officer:
“Clearly, IRA overall is negative for innovation and does not promote a spirit that people could provide investments, but there are also some good things about it. So clearly, I wouldn’t like to see that the out-of-pocket that next year will be $167 per month for all your medicines for seniors.

“That, we want to be maintained. But this forced price setting is not a negotiation and also the penalty deal between — are things that needs to change.”

Disease Area: Multiple, Oncology
Drug Type: Biologic, Small Molecule
October 25, 2024

Sanofi

Negative Outlook

Paris, France
50,001+ employees

Brian Foard — Global Business Unit Head, Specialty Care:
“I think from an environment standpoint, the Inflation Reduction Act, there’s a couple of things in there. And as we’ve said before, our position is, it’s not really good for innovation just in general, the Inflation Reduction Act.”

Disease Area: Multiple, Neurological Diseases, Oncology
Drug Type: Biologic, Small Molecule
June 2, 2024

Eli Lilly & Company

Negative Outlook

Indianapolis, IN
10,001-50,000 employees

“Specifically, Ricks referred to the IRA’s nine-year restriction on market exclusivity before government price-setting for small-molecule drugs as “terminating ideas before they have time to even grow roots.”

“I think that we’re going to miss the next Keytruda. And that’s why we’re raising the points that we are,” Ricks stressed.”

Disease Area: Oncology
Drug Type: Small Molecule
March 31, 2024

Takeda

Negative Outlook

Cambridge, MA
10,001-50,000 employees

“We expect the IRA to negatively impact sales and profits and may lead to further political pressure, or legislative, regulatory, or other efforts to introduce lower prices reduce spending on the Medicare and Medicaid programs expand and strengthen the affordable care act and lower, the overall spending by the government and prescription medicines. In addition, various state legislature and regulators have an acted or pursuing policy changes that could further increase pricing pressure on our products as a result we expect the healthcare industry in the US will continue to be subject to increase pricing and spending pressure.”

Disease Area: Multiple
Drug Type: Biologic, Small Molecule
November 13, 2023

IGM Biosciences

Negative Outlook

Mountain View, CA
201-500 employees

“The implementation of cost containment measures, including the prescription drug provisions under the Inflation Reduction Act, as well as other healthcare reforms may prevent us from being able to generate revenue, attain profitability, or commercialize our product candidates if approved.”

Disease Area: Multiple, Oncology
Drug Type: Biologic, Small Molecule
November 9, 2023

Xilio Therapeutics

Negative Outlook

Waltham, MA
51-200 employees
Disease Area: Oncology
Drug Type: Biologic
November 9, 2023

Context Therapeutics

Negative Outlook

Philadelphia, PA
1-50 employees
Disease Area: Oncology
Drug Type: Biologic
November 9, 2023

Beigene

Negative Outlook

Cambridge, MA
5,001-10,000 employees

“For example, the Inflation Reduction Act of 2022 (“IRA”) contains several provisions that may impact our business to varying degrees, including provisions that reduce the out-of-pocket spending cap for Medicare Part D beneficiaries from $7,050 to $2,000 starting in 2025, thereby effectively eliminating the coverage gap; impose new manufacturer financial liability on certain drugs under Medicare Part D; allow the U.S. government to negotiate Medicare Part B and Part D price caps for certain high-cost drugs and biologics without generic or biosimilar competition; require companies to pay rebates to Medicare for certain drug prices that increase faster than inflation; and delay until January 1, 2032 the implementation of the U.S. Department of Health and Human Services (“HHS”) rebate rule that would have limited the fees that pharmacy benefit managers can charge. Further, under the IRA, orphan drugs are exempted from the Medicare drug price negotiation program, but only if they have one orphan designation and for which the only approved indication is for that disease or condition. If a product receives multiple rare disease designations or has multiple approved indications, it may not qualify for the orphan drug exemption.”

Disease Area: Oncology
Drug Type: Biologic
November 8, 2023

Atea Pharmaceuticals

Negative Outlook

Boston, MA
51-200 employees

“We expect that additional US federal healthcare reform measures will be adopted in the future, any of which could limit the amounts that the US federal government will pay for healthcare products and services, which could result in reduced demand for our product candidates or additional pricing pressures.”

Disease Area: Antiviral
Drug Type: Small Molecule
November 8, 2023

Adicet Bio

Negative Outlook

Boston, MA
51-200 employees

“The implementation of the IRA is currently subject to ongoing litigation challenging the constitutionality of the IRA’s Medicare drug price negotiation program. The effects of the IRA on our business and the healthcare industry in general is not yet known.”

Disease Area: Oncology
Drug Type: Biologic
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