On August 16, 2022, President Biden signed the Inflation Reduction Act of 2022 (the IRA) into law. This statute marks the most significant action by Congress with respect to the pharmaceutical industry since adoption of the ACA in 2010. Among other things, the IRA (i) directs the Department of Health and Human Services (HHS) to negotiate the price of certain high-expenditure, single-source drugs and biologics covered under Medicare; (ii) imposes rebates under Medicare Part B and Medicare Part D to penalize price increases that outpace inflation; (iii) reduces the out-of-pocket cap for Medicare Part D beneficiaries to $2,000 starting in 2025.
All entries for: Metabolic Diseases
November 12, 2025
Metsera, Inc
Neutral Outlook
New York, New York
201-500 employees
Disease Area: Metabolic Diseases
Drug Type: Biologic, Small Molecule
November 6, 2025
Entrada Therapeutics
Neutral Outlook
Boston, MA
51-200 employees
The Inflation Reduction Act of 2022 (the “IRA”) includes several provisions that may impact our business to varying degrees, including provisions that create a $2,000 out-of-pocket cap for Medicare Part D beneficiaries, impose new manufacturer financial liability on all drugs in Medicare Part D, allow the U.S. government to negotiate Medicare Part B and Part D pricing for certain high-cost drugs and biologics without generic or biosimilar competition, require companies to pay rebates to Medicare for drug prices that increase faster than inflation, and delay the rebate rule that would limit the fees that pharmacy benefit managers can charge.
Disease Area: Metabolic Diseases, Multiple, Neurological Diseases, Rare Diseases
Drug Type: Biologic
November 4, 2025
Rhythm Pharmaceuticals
Neutral Outlook
Boston, MA
201-500 employees
Most significantly, in August 2022, President Biden signed the Inflation Reduction Act of 2022 (IRA) into law. This statute marks the most significant action by Congress with respect to the pharmaceutical industry since adoption of the ACA in 2010.
Disease Area: Endocrinology, Metabolic Diseases, Multiple, Rare Diseases
Drug Type: Small Molecule
November 3, 2025
Rhythm Pharmaceuticals
Negative Outlook
Boston, MA
201-500 employees
IMCIVREE is not currently reimbursed under Medicare Part D, but if we were to be reimbursed under Medicare Part D in the future, the reimbursement amount will be impacted by the 10 and 20 percent discounts under the IRA’s new discounting program. We anticipate that these increased discounts could impact IMCIVREE revenues, while also having an industry-wide impact on the cost of Part D drugs. The impact on IMCIVREE revenues could be offset because the IRA’s redesign of certain Part D components, some of which went into effect in 2024, resulted in an increase in the number of patients able to afford this therapy. The amount of the offset, if any, is inherently uncertain and difficult to predict.
Disease Area: Endocrinology, Metabolic Diseases, Multiple, Rare Diseases
Drug Type: Small Molecule
October 30, 2025
Ardelyx, Inc
Neutral Outlook
Waltham, MA
201-500 employees
Under the IRA, small molecule drugs and biologics that otherwise qualify for selection first become eligible for price negotiation seven and eleven years, respectively, after U.S. FDA approval…While the impact of the IRA on us and 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
October 16, 2025
Novo Nordisk
Layoffs
Denmark
50,001+ employees
As part of its restructuring that includes cutting about 9,000 employees globally, Novo Nordisk is laying off U.S. employees this week and continuing into next week. Reuters noted that based on an email it received, affected departments include HR, clinical development, rare diseases, medical and regulatory, legal, ethics and compliance, marketing and sales, finance and public affairs.
Disease Area: Chronic Disease, Metabolic Diseases, Neurological Diseases, Rare Diseases
Drug Type: Biologic, Small Molecule
October 14, 2025
Novo Nordisk
Layoffs
Denmark
50,001+ employees
Almost all of Novo’s 250 cell therapy employees will be laid off, Fierce reported, citing the Danish outlet Borsen.
Disease Area: Chronic Disease, Metabolic Diseases, Neurological Diseases, Rare Diseases
Drug Type: Biologic, Small Molecule
September 19, 2025
Novo Nordisk
Layoffs
Denmark
50,001+ employees
Novo Nordisk will let go of 263 employees at its U.S. headquarters in Plainsboro, New Jersey, effective Dec. 31.
Disease Area: Chronic Disease, Metabolic Diseases, Neurological Diseases, Rare Diseases
Drug Type: Biologic, Small Molecule
September 11, 2025
Novo Nordisk
Layoffs
Denmark
50,001+ employees
Novo Nordisk is cutting some 9,000 staff across its global operations, including around 5,000 in Denmark, in a bid to generate around $1.25 billion in annualized savings through 2026. The layoffs, which amount to an 11% headcount reduction, will begin “immediately,” and Novo expects to incur 9 billion Danish Kroner ($1.41 billion) in one-off costs, which will reflect in third-quarter 2025 results.
Disease Area: Chronic Disease, Metabolic Diseases, Neurological Diseases, Rare Diseases
Drug Type: Biologic, Small Molecule
August 14, 2025
MeiraGTx Holdings plc
Negative Outlook
New York, NY
51-200 employees
These new laws or any other similar laws introduced in the future may result in additional reductions in Medicare and other healthcare funding, which could negatively affect our customers and accordingly, our financial operations
Disease Area: Metabolic Diseases, Multiple, Neurological Diseases, Rare Diseases
Drug Type: Small Molecule