While it remains to be seen how the drug pricing provisions imposed by the IRA will affect the broader pharmaceutical industry, several pharmaceutical manufacturers and other industry stakeholders have challenged the law, including through lawsuits brought against the HHS, the Secretary of the HHS, CMS, and the CMS Administrator challenging the constitutionality and administrative implementation of the IRA’s drug price negotiation provisions. This litigation is ongoing and its results, and potential impacts on our business, are uncertain.
All entries for: Oncology
May 7, 2026
CytomX Therapeutics, Inc.
Neutral Outlook
San Francisco, CA
51-200 employees
For that and other reasons, it is currently unclear how the IRA will be effectuated. These laws and future laws may negatively impact the ability of biotechnology companies, including us, to raise funds from investors for or to obtain collaboration partners who assist us in the funding of research and development of future medicines.
Disease Area: Oncology
Drug Type: Biologic
May 7, 2026
Corvus Pharmaceuticals, Inc.
Neutral Outlook
Burlingame, CA
51-200 employees
While the impact of the IRA on the pharmaceutical industry cannot yet be fully determined, it is likely to be significant.
Disease Area: Dermatology, Hematology, Immune Diseases, Oncology
Drug Type: Biologic, Small Molecule
May 7, 2026
Gilead Sciences, Inc.
Negative Outlook
Foster City, CA
10,000+ employees
While the full impact of the IRA on our business and the pharmaceutical industry remains uncertain at this time, we anticipate that the IRA will increase our payment obligations under the redesigned Part D discount program, limit the prices we can charge for our products, and increase the rebates we must provide government programs for our products, thereby reducing our profitability and negatively impacting our financial results.
Disease Area: Antiviral, Chronic Disease, Multiple, Oncology
Drug Type: Biologic, Small Molecule
May 6, 2026
Revolution Medicines, Inc.
Neutral Outlook
Redwood City, CA
1000-5000 employees
Because the Medicare drug price negotiation program is currently subject to legal challenges, and for other reasons, it is currently unclear how the IRA will be effectuated, and the impact of the IRA on our business and the pharmaceutical industry cannot yet be fully determined.
Disease Area: Oncology, Rare Diseases
Drug Type: Small Molecule
May 6, 2026
GERON CORP
Neutral Outlook
Foster City, CA
51-200 employees
The Inflation Reduction Act of 2022 includes several provisions to lower prescription drug costs for people with Medicare and reduce drug spending by the federal government, including the Medicare Drug Price Negotiation Program, which may ultimately have a negative effect on the pricing for RYTELO… These changes could lower reimbursement for Medicare Part B utilization and require manufacturers to comply with new, uncertain or complex reporting obligations and drug pricing documentation practices.
Disease Area: Hematology, Oncology
Drug Type: Biologic
May 6, 2026
Gilead Sciences
Layoffs
Foster City, CA
10,000+ employees
After closing its $7.8 billion takeover of Arcellx last week, Gilead Sciences is now letting go of 108 employees at the biotech’s headquarters in Redwood City, California, according to a Worker Adjustment and Retraining Notification (WARN) alert for the state. The layoffs will take effect on June 30.
Arcellx had 220 employees as of March 1, according to a securities filing last month, indicating that Gilead’s cuts will nearly halve the biotech’s workforce.
Gilead and Arcellx are long-time partners. The companies joined hands in December 2022, with the pharma paying $225 million upfront alongside a $100 million equity investment in the biotech. The deal was focused on Arcellx’s late-stage CAR T therapy—the asset that would later be named anito-cel—for the treatment for relapsed or refractory multiple myeloma. Gilead at the time pledged up to $3.9 billion in milestones.
Disease Area: Antiviral, Immune Diseases, Infectious Diseases, Multiple, Oncology, Rare Diseases
Drug Type: Biologic, Small Molecule
May 6, 2026
BioNTech
Layoffs
Arnedo, La Rioj
51-200 employees
BioNTech has outlined plans to close multiple manufacturing facilities by the end of next year, affecting about 1,860 jobs.
The German biotech intends to shutter three facilities in its home country. BioNTech’s Idar-Oberstein, Marburg and Tübingen sites are scheduled for closure by the end of next year. As previously disclosed, the biotech is also exiting a manufacturing facility in Singapore. BioNTech expects to conclude operations at the Singapore facility by the first quarter of next year.
Efforts to consolidate the manufacturing network are focused on sites where capacity will become idle or underused within 24 months, BioNTech CFO Ramón Zapata said on the company’s first-quarter earnings call on May 5. BioNTech is exploring divestment options, including partial and total sales of the plants.
Disease Area: Oncology
Drug Type: Biologic
May 5, 2026
Relay Therapeutics
Neutral Outlook
Cambridge, MA
51-200 employees
Although the effects of the IRA on our business and the healthcare industry in general are not yet known, we are taking into consideration the potential impact of the IRA on our development and commercialization activities.
Disease Area: Oncology, Rare Diseases
Drug Type: Biologic, Small Molecule