Bristol Myers Squibb is making yet more cuts to its Lawrenceville, New Jersey, workforce, this time axing 516 people, according to a Worker Adjustment and Retraining Notification Act notice. The layoffs will come in multiple waves starting May 9 and ending March 27, 2026.
All entries for: Cardiology
May 6, 2025
Cytokinetics
Negative Outlook
Recently enacted laws, including the Inflation Reduction Act, or IRA, and potential future legislation may increase the difficulty and cost for us to obtain regulatory approval of, and to commercialize our products and to obtain Medicare coverage by 3rd party plans and affect the prices we may obtain upon commercialization.
Disease Area: Cardiology, Multiple, Neurological Diseases
Drug Type: Small Molecule
May 2, 2025
Bristol Myers Squibb - Chicago
Layoffs
Chicago, IL
10,001-50,000 employees
About two years ago, Bristol Myers Squibb bought a manufacturing plant in the Chicago suburbs from Novartis, with plans to make viral vectors for BMS’ CAR T therapeutics there. Now, BMS is shutting the plant down as part of BMS’ ongoing cost-cutting spree. The company is laying off 133 employees, with the first layoff date on June 1, according to a Worker Retraining Notification Act notice.
Disease Area: Cardiology, Hematology, Immune Diseases, Multiple, Oncology
Drug Type: Biologic, Small Molecule
May 2, 2025
Merck
Negative Outlook
Rahway, NJ
10,001-50,000 employees
Pursuant to the IRA’s Program, a government price was set for Januvia, which will become effective on January 1, 2026. In January 2025, the U.S. Department of HHS, through the CMS, announced that Janumet and Janumet XR would be in included in the second year of the IRA’s Program, with government price setting to become effective on January 1, 2027. The Company has sued the U.S. government regarding the IRA’s Program. Additionally, increased utilization of the 340B Federal Drug Discount Program and restrictions on the Company’s ability to identify inappropriate discounts are having a negative impact on Company performance. Furthermore, the Executive Branch and Congress continue to discuss legislation designed to control health care costs, including the cost of drugs. In several international markets, government-mandated pricing actions have reduced prices of generic and patented drugs. In addition, the Company’s sales performance in the first three months of 2025 was negatively affected by other cost-reduction measures taken by governments and other third parties to lower health care costs. The Company anticipates all of these actions and additional actions in the future will continue to negatively affect sales and profits.
Disease Area: Antiviral, Cardiology, Immune Diseases, Multiple, Neurological Diseases, Oncology
Drug Type: Biologic, Small Molecule
May 1, 2025
Medera
Negative Outlook
Boston, MA
51-200 employees
It is currently unclear how these judicial challenges as well as other legislative, executive, and administrative actions, including how the IRA will be implemented, will impact the pharmaceutical industry. The implementation of cost containment measures or other healthcare reforms may prevent us from being able to generate revenue, attain profitability, or commercialize our product candidates if approved.
Disease Area: Cardiology, Chronic Disease, Multiple, Respiratory Diseases
Drug Type: Biologic
May 1, 2025
Bicycle Therapeutics
Negative Outlook
Cambridge, MA
201-500 employees
…IRA, and by other healthcare legislative reforms that may be enacted or adopted in the future, particularly in light of the recent U.S. Presidential and Congressional elections. We expect to experience pricing pressures in connection with the sale of any of our product candidates, due to the trend toward managed healthcare, the increasing influence of health maintenance organizations and additional legislative changes. The downward pressure on healthcare costs in general, particularly prescription drugs and other treatments, has become very intense. As a result, increasingly high barriers are being erected to the entry of new products.
Disease Area: Cardiology, Multiple, Neurological Diseases, Oncology
Drug Type: Small Molecule
May 1, 2025
Ardelyx
Neutral Outlook
Waltham, MA
201-500 employees
While the impact of the IRA on the pharmaceutical industry cannot yet be fully determined, it is likely to be significant
Disease Area: Cardiology, Chronic Disease, Gastrointestinal, Metabolic Diseases, Multiple
Drug Type: Small Molecule
May 1, 2025
Eli Lilly & Company
Negative Outlook
Indianapolis, IN
10,001-50,000 employees
The IRA has, and will continue to, meaningfully influence our business strategies and those of our competitors and could significantly impact our business and consolidated results of operations.
Disease Area: Cardiology, Chronic Disease, Immune Diseases, Metabolic Diseases, Multiple, Neurological Diseases, Oncology
Drug Type: Biologic, Small Molecule
April 30, 2025
CAMP4 Therapeutics
Neutral Outlook
Cambridge, MA
51-200 employees
Additionally, the Inflation Reduction Act of 2022 includes several provisions such as drug pricing controls and Medicare redesign that are likely to impact our business to varying degrees, but its ultimate effect on our business and the healthcare industry in general is not yet known
Disease Area: Cardiology, Metabolic Diseases, Multiple, Neurological Diseases, Rare Diseases
Drug Type: Small Molecule