Inflation Reduction Act Deductions. If, during the Net Sales Term for an Anticipated Product in the United States, such Anticipated Product is designated as a Selected IRA Drug by the Secretary of the U.S. Department of Health and Human Services, and Novo Nordisk or its Affiliate or its or their licensee or Sublicensee is required to negotiate and is ultimately subject to a Maximum Fair Price that will apply to sales of such Anticipated Product during the Price Applicability Period (the Calendar Quarter during which such event occurred, the “Event Quarter”), then the Net Sales of such Anticipated Product in the United States[***] will be reduced by [***].
All entries for: Immune Diseases
March 31, 2026
HCW Biologics Inc.
Negative Outlook
Miramar, FL
1-50 employees
Thus, while it is unclear how the IRA will be implemented, it will likely have a significant impact on the biopharmaceutical industry and the pricing of prescription drug products.
Disease Area: Immune Diseases, Oncology
Drug Type: Biologic
March 31, 2026
Decoy Therapeutics Inc
Neutral Outlook
Houston, TX
1-50 employees
In August 2022, the Inflation Reduction Act of 2022 was signed into law and requires the federal government to negotiate prices for some high-cost drugs covered under Medicare, requires drug manufacturers to pay rebates to Medicare if they increase prices faster than inflation for drugs used by Medicare beneficiaries, and caps Medicare beneficiaries’ out-of-pocket spending under the Medicare Part D benefit. We will monitor this issue to determine the effects of this legislation on our business.
Disease Area: Immune Diseases, Oncology
Drug Type: Small Molecule
March 31, 2026
Omeros Corp
Negative Outlook
Seattle, WA
201-500 employees
Any reduction in reimbursement from Medicare, including as a result of the Inflation Reduction Act, or other government programs may result in a similar reduction in payments from private payers. Pricing may also be adversely affected by changes in the terms, scope and/or complexity of government pricing requirements.
Disease Area: Immune Diseases, Neurological Diseases
Drug Type: Small Molecule
March 26, 2026
Upstream Bio, Inc.
Neutral Outlook
Waltham, 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: Immune Diseases, Respiratory Diseases
Drug Type: Biologic
March 26, 2026
Can-Fite BioPharma Ltd
Neutral Outlook
Petah Tikva, Israel
1-50 employees
On August 16, 2022, President Biden signed the Inflation Reduction Act of 2022, which includes several provisions to lower prescription drug costs for people with Medicare, including price negotiation requirements for drugs covered under Medicare, rebate requirements when drug prices rise faster than inflation, and a cap on out-of-pocket spending for Medicare Part D enrollees.
Disease Area: Immune Diseases, Oncology
Drug Type: Small Molecule