These changes are expected to reduce overall Medicaid enrollment and access to care. Although the effect on our future product candidates or business is unknown, any decrease in the number of insured patients or reimbursement levels for our products could adversely affect our potential for revenue and our commercial prospects.
All entries for: Negative Outlook
May 11, 2026
Eikon Therapeutics, Inc.
Negative Outlook
Millbrae, CA
201-500 employees
In any event, the IRA is likely to have a significant impact on the pharmaceutical industry and may reduce the prices we can charge, and the reimbursement we can receive, for our products, among other effects.
Disease Area: Oncology
Drug Type: Small Molecule
May 11, 2026
Sana Biotechnology, Inc.
Negative Outlook
Seattle, Washington
51-200 employees
If we obtain regulatory approval for any of our product candidates, the IRA could substantially and negatively impact the prices we may charge for such products, which could harm our ability to generate revenue and achieve and sustain profitability.
Disease Area: Endocrinology, Hematology, Immune Diseases, Oncology
Drug Type: Biologic
May 7, 2026
Gilead Sciences, Inc.
Negative Outlook
Foster City, CA
10,000+ employees
While the full impact of the IRA on our business and the pharmaceutical industry remains uncertain at this time, we anticipate that the IRA will increase our payment obligations under the redesigned Part D discount program, limit the prices we can charge for our products, and increase the rebates we must provide government programs for our products, thereby reducing our profitability and negatively impacting our financial results.
Disease Area: Antiviral, Chronic Disease, Multiple, Oncology
Drug Type: Biologic, Small Molecule
May 6, 2026
Biocryst Pharmaceuticals Inc
Negative Outlook
Durham, NC
501-1,000 employees
The IRA or other government efforts to reduce the price of prescription drugs or to limit the amount that governments pay for healthcare products and services could result in additional pricing pressure and have a significant impact on our business.
Disease Area: Rare Diseases
Drug Type: Biologic, Small Molecule
May 5, 2026
Rigel Pharmaceutical Inc
Negative Outlook
South San Francisco, CA
51-200 employees
Recent healthcare reform measures, including the Inflation Reduction Act and changes to government healthcare programs, could adversely affect our business. U.S. federal and state healthcare reforms have resulted in, and are expected to continue to result in, significant changes to the pricing, reimbursement and coverage of pharmaceutical products.
May 4, 2026
Axsome Therapeutics, Inc.
Negative Outlook
New York, NY
201-500 employees
We are evaluating what effect, if any, the IRA may have on our business. Any reduction in reimbursement from Medicare or other government healthcare programs may result in a similar reduction in payments from private payors. The implementation of cost containment measures or other healthcare reforms may prevent us from being able to generate revenue, attain profitability, or commercialize our drugs.
Disease Area: Chronic Disease, Neurological Diseases
Drug Type: Small Molecule
May 1, 2026
Amgen Inc
Negative Outlook
Thousand Oaks, CA
10,000+ employees
It remains unclear what further policies, legislation and/or actions the Administration, Congress, or state governments will advance with respect to other drug pricing proposals or other healthcare regulations affecting pharmaceuticals, including the MFN EO, IRA and OB3 implementation, trade policies, or state laws affecting the 340B Program or Medicaid reimbursement that could ultimately be adopted more broadly. To the extent such actions reduce or modify coverage or reimbursement for our products, increase rebates or other costs, constrain pricing decisions, or otherwise limit product use, they would have an adverse effect on our business and results of operations.
Disease Area: Cardiovascular, Hematology, Metabolic Diseases, Oncology, Rare Diseases
Drug Type: Biologic, Small Molecule
April 29, 2026
Crescent Biopharma Inc
Negative Outlook
Waltham, MA
1-50 employees
The current Presidential administration is pursuing a two-fold strategy to reduce drug costs in the U.S. While it is unclear whether and how such policies will be implemented, the proposed policies are likely to have a negative impact on the pharmaceutical industry and on our ability to receive adequate revenues for our product candidates, if approved. As part of this strategy, President Trump has proposed imposing significant tariffs on pharmaceutical manufacturers that do not adopt pricing policies such as most favored nation pricing, which would tie the price for drugs in the U.S. to the lowest price in a group of other countries.
April 29, 2026
Ionis Pharmaceuticals
Negative Outlook
The current U.S. Presidential administration is pursuing policies to reduce regulations and expenditures across government agencies, including at HHS, the FDA, CMS, and other related agencies, with a particular focus on most favored nation pricing equal to or lower than those paid in other developed nations… These and other recent actions and policies may significantly reduce U.S. drug prices, potentially impacting manufacturers’ global pricing strategies and profitability, while increasing their operational costs and compliance risks.