The impact of the IRA on the broader pharmaceutical industry remains to be seen.
All entries for: Chronic Disease
February 23, 2026
Vir Biotechnology, Inc.
Neutral Outlook
San Francisco, CA
201-500 employees
Among other things, the IRA contains many provisions aimed at reducing this financial burden on individuals by reducing the co-insurance and co-payment costs, expanding eligibility for lower income subsidy plans, and price caps on annual out-of-pocket expenses, each of which could have potential pricing and reporting implications.
Disease Area: Antiviral, Chronic Disease, Immune Diseases, Infectious Diseases, Oncology
Drug Type: Biologic
February 19, 2026
Madrigal Pharmaceuticals, Inc.
Negative Outlook
West Conshohocken, Pennsylvania
501-1,000 employees
The IRA is anticipated to have significant effects on the pharmaceutical industry and may reduce the prices we can charge and reimbursement we can receive for our product, among other effects.
Disease Area: Chronic Disease, Immune Diseases
Drug Type: Small Molecule
February 19, 2026
Insmed INC
Neutral Outlook
Bridgewater, NJ
1,001-5,000 employees
We cannot predict other potential implications the IRA provisions will have on our business or the pricing of our product candidates, if approved.
Disease Area: Chronic Disease, Immune Diseases, Neurological Diseases, Other, Respiratory Diseases
Drug Type: Biologic, Small Molecule
February 17, 2026
Halozyme Therapeutics, Inc.
Neutral Outlook
San Diego, CA
201-500 employees
For example, in August 2022, The Inflation Reduction Act of 2022 (the “IRA”) was enacted which will, among other things, allow and require the federal government to negotiate prices for some drugs covered under Medicare Part B and Part D, require drug companies to pay rebates to Medicare if prices rise faster than inflation for drugs used by Medicare beneficiaries and cap out-of-pocket spending for individuals enrolled in Medicare Part D.
Disease Area: Chronic Disease, Immune Diseases, Oncology, Rare Diseases
Drug Type: Biologic
February 13, 2026
Vertex Pharmaceuticals Inc
Neutral Outlook
Boston, MA
1,001-5,000 employees
Additionally, in August 2022, the Inflation Reduction Act (“IRA”) was enacted, establishing a Medicare Drug Price Negotiation Program, a Medicare inflationary rebate, and a redesign of the Part D benefit structure.
Disease Area: Chronic Disease, Immune Diseases, Neurological Diseases, Rare Diseases
Drug Type: Biologic, Small Molecule
February 12, 2026
Eli Lilly & Co
Negative Outlook
Indianapolis, IN
10,000+ employees
The IRA has, and will continue to, meaningfully influence our business strategies and those of our competitors. In particular, the nine-year timeline to set prices for medicines approved under a New Drug Application reduces the attractiveness of investment in small molecule innovation. The IRA can cause changes to development approach and timing and investments at-risk. The full impact of the IRA on our business and the pharmaceutical industry, including the implications to us of a competitor’s product being selected for price setting, remains uncertain.
Disease Area: Cardiology, Chronic Disease, Immune Diseases, Metabolic Diseases, Multiple, Neurological Diseases, Oncology
Drug Type: Biologic, Small Molecule
February 4, 2026
Novo Nordisk
Neutral Outlook
Bagsværd
10,000+ employees
In recent years, there has been a general trend in the United States of pharmacy benefit managers managing the cost of obesity and diabetes care to exert pressure on the price of Novo Nordisk’s and competitors’ products. Furthermore, 2025 saw the finalisation of the second round of negotiations with the US administration on Medicare Part D drug prices under the Inflation Reduction Act. Included in these negotiations were semaglutide based products Ozempic®, Rybelsus® and Wegovy® from Novo Nordisk. The negotiated price for the products in Medicare Part D will go into effect in 2027.
Disease Area: Chronic Disease, Metabolic Diseases, Neurological Diseases, Rare Diseases
Drug Type: Biologic, Small Molecule
January 30, 2026
GRI Bio, Inc.
Neutral Outlook
La Jolla, CA
1-50 employees
Further, in August 2022, President Biden signed into the law the Inflation Reduction Act of 2022 (the IRA). Among other things, the IRA has multiple provisions that may impact the prices of drug products that are both sold into the Medicare program and throughout the United States. A manufacturer of drugs covered by Medicare Parts B or D must now pay a rebate to the federal government if their drug product’s price increases faster than the rate of inflation.
Disease Area: Chronic Disease, Immune Diseases
Drug Type: Small Molecule