Further, the IRA inflation penalties allow CMS to collect rebates from manufacturers if Medicare price increases outpace inflation, and several of our products have been subject to such IRA inflation rebates. The IRA’s Medicare price setting and Medicare redesign have had, and are likely to have, an adverse effect on our sales, our business and our results of operations, and such impact is expected to increase through the end of the decade and will depend on factors including the extent of our portfolio’s exposure to Medicare reimbursement, the rate of inflation over time, the number of our products selected for Medicare price setting and the timing of market entry of generic or biosimilar competition. Further, following the enactment of the IRA, the environment remains dynamic, and U.S. policymakers continue to demonstrate interest in health care and drug pricing changes as well as potential changes affecting intellectual property.
All entries for: Metabolic Diseases
Pfizer - New York
Layoffs
New York, NY
10,000+ employees
“Pfizer is adding $2.5 billion in cuts to an ongoing restructuring, with much of the new reduction coming from technology and simplification efforts across the New York pharma’s commercial, R&D and manufacturing functions.
The cuts under Pfizer’s Realigning Our Cost Base Program are expected to save $1 billion, the company announced Aug. 4 in its second-quarter earnings release. Most savings will occur between 2027 and 2029, but not for free: the program carries a one-time cost of $2 billion for digital enablement, implementation and severance.
A company spokesperson declined to give further details on how severance will be paid, whether any jobs will be affected, or what technological changes are planned.”
Rhythm Pharmaceuticals
Neutral Outlook
Boston, MA
201-500 employees
The impact of the IRA on us and the pharmaceutical industry cannot yet be fully determined, but is likely to be significant.
Aligos Therapeutics, Inc.
Neutral Outlook
South San Francisco, CA
51-200 employees
The impact of the IRA on us and the pharmaceutical industry cannot yet be fully determined, but is likely to be significant.
Aardvark Therapeutics
Neutral Outlook
San Diego, CA
1-50 employees
In addition, the IRA imposes new manufacturer financial liability on certain drugs under Medicare Part D, allowing the U.S. government to negotiate Medicare Part B and Part D price caps for certain high-cost drugs and biologics without generic or biosimilar competition, subject to certain exemptions applicable to orphan drugs. It is possible that the ACA will be subject to judicial or congressional challenges or legislative modifications in the future. It is unclear how such challenges or modifications, and the healthcare reform measures of the current administration, will impact the ACA and our business.
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.