The U.S. government and individual states continue to aggressively pursue healthcare reform, which includes ongoing attempts to manage utilization as well as control and/or lower the cost of prescription drugs and biologics. Recent years have seen a number of reform initiatives focused on drug pricing and payment. For example, the Inflation Reduction Act (“IRA”), passed in 2022, has had and will likely continue to have a significant impact on the pharmaceutical industry.
All entries for: Multiple
August 5, 2026
Tenaya Therapeutics, Inc.
Neutral Outlook
South San Francisco, CA
51-200 employees
For example, the IRA passed by Congress authorizes the Secretary of the Department of HHS to negotiate prices directly with participating manufacturers for selected medicines covered by Medicare even if these medicines are protected by an existing patent. While we do not believe that the IRA or its effects will impact our ability to obtain patents in the near future, we cannot be certain whether it will affect our patent strategy in the long run.
Disease Area: Cardiology, Multiple, Rare Diseases
Drug Type: Small Molecule
August 5, 2026
Akebia Therapeutics, Inc.
Neutral Outlook
Cambridge, MA
201-500 employees
On August 16, 2022, the Inflation Reduction Act of 2022, or IRA, was signed into law by President Biden. Among other things, the IRA imposes rebates under Medicare Part B and Medicare Part D to penalize price increases that outpace inflation (first due in 2023); and replaces the Part D coverage gap discount program with a new discounting program (beginning in 2025).
Disease Area: Hematology, Multiple, Rare Diseases
Drug Type: Small Molecule
August 5, 2026
Amgen Inc
Neutral Outlook
Thousand Oaks, CA
10,000+ employees
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.
Disease Area: Cardiology, Metabolic Diseases, Multiple, Oncology
Drug Type: Biologic, Small Molecule
August 5, 2026
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.”
Disease Area: Antiviral, Cardiology, Dermatology, Gastrointestinal, Immune Diseases, Infectious Diseases, Metabolic Diseases, Multiple, Oncology
Drug Type: Biologic, Small Molecule
August 4, 2026
Rigel Pharmaceuticals Inc
Neutral Outlook
South San Francisco, CA
51-200 employees
Recent healthcare reform measures, including the Inflation Reduction Act and changes to government healthcare programs, could adversely affect our business.
Disease Area: Hematology, Multiple, Oncology
Drug Type: Small Molecule
August 4, 2026
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.
Disease Area: Endocrinology, Metabolic Diseases, Multiple, Rare Diseases
Drug Type: Biologic, Small Molecule
August 3, 2026
Jazz Pharmaceuticals plc
Negative Outlook
Dublin, Ireland
1,000-5,000 employees
The IRA also made several changes to the Medicare Part D benefit, including a limit on annual out-of-pocket costs and a change in manufacturer liability under the program, that could negatively affect our business and financial condition.
Disease Area: Multiple, Neurological Diseases, Oncology, Rare Diseases
Drug Type: Biologic, Small Molecule
August 3, 2026
Stoke Therapeutics, Inc.
Neutral Outlook
Bedford, MA
201-500 employees
Thus, while it is unclear how the IRA will be implemented, it will likely have a significant impact on the pharmaceutical industry.
Disease Area: Multiple, Neurological Diseases, Rare Diseases
Drug Type: Small Molecule