“Accordingly, while it is currently unclear how the IRA will be effectuated, we cannot predict with certainty what impact any federal or state health reforms will have on us, but such changes could impose new or more stringent regulatory requirements on our activities or result in reduced reimbursement for our products, any of which could adversely affect our business, results of operations and financial condition.”
All entries for: Oncology
November 1, 2023
Exelixis
Negative Outlook
Alameda, CA
1,001-5,000 employees
Disease Area: Oncology
Drug Type: Small Molecule
October 27, 2023
Vir Biotechnology
Negative Outlook
San Francisco, CA
201-500 employees
Disease Area: Antiviral, Multiple, Oncology
Drug Type: Biologic, Small Molecule
October 26, 2023
Seagen
Discontinued Drug, Discontinued Research
Bothell, WA
1,001-5,000 employees
“Seagen Inc. ended a program to study one of its drugs to treat an early-stage form of bladder cancer because it would have been subject to government price negotiations shortly after approval, Chief Executive Officer David Epstein said.
The company had been looking into using its drug Padcev to treat the nonmuscle-invasive version of the disease that accounts for about 70% of newly diagnosed bladder cancer cases. It stopped after determining that there would be no financial return from the potential use, as approval would have likely come soon before the drug became subject to price bargaining under the Inflation Reduction Act…”
1 Discontinued Drug: Padcev (biologic)
1 Discontinued Research Program
Disease Area: Oncology
Drug Type: Biologic
October 25, 2023
Alkermes
Negative Outlook
Dublin, Ireland
1,001-5,000 employees
Disease Area: Oncology
Drug Type: Small Molecule
October 10, 2023
Pfizer
Layoffs
New York, NY
50,001+ employees
“Pfizer is conducting layoffs at its Boulder, CO research facility, months after announcing a retreat from a significant chunk of its early-stage research… The facility specialized in small molecule discovery, and housed nearly 300 employees, according to Pfizer’s website.”
Disease Area: Oncology
Drug Type: Small Molecule
October 4, 2023
Bristol Myers Squibb
Discontinued Research
Princeton, NJ
10,001-50,000 employees
BMS, whose blood thinner Eliquis (apixaban) is also on the list, wrote via email that it, too, is discontinuing certain oncology programs due to the IRA, including a late-stage registration trial for the multiple myeloma drug iberdomide. “Much of our progress against cancer is the result of post-approval research for patients, [and] as a result of the IRA, this research and progress is now at risk,” the BMS spokesperson wrote.
2 Discontinued Research Programs: iberdomide clinical trial; unnamed oncology programs
Disease Area: Oncology
Drug Type: Biologic, Small Molecule
August 14, 2023
Xilio Therapeutics
Negative Outlook
Waltham, MA
51-200 employees
Disease Area: Oncology
Drug Type: Biologic
August 10, 2023
Zymeworks
Negative Outlook
Middletown, DE
201-500 employees
Disease Area: Multiple, Oncology, Therapeutics
Drug Type: Biologic
August 10, 2023
Genentech
Negative Outlook
San Francisco, CA
10,001-50,000 employees
“Now, he’s arguing that the law’s new Medicare negotiation program could encourage Genentech to slow-walk research on how a drug could treat diseases with smaller populations in favor of making sure diseases with larger patient populations are the first to market. That would mean the company would sell more medicines in the window before Medicare is allowed to negotiate prices, because the clock for when discounts can kick in is based off of when the drug first goes on the market.
Speaking about an experimental therapy in the works that could treat ovarian cancer, breast cancer, and prostate cancer, he said, “Normally, we would develop it in a fast market approach for ovarian cancer. That’s the shortest path to patients … but that is a much smaller indication than prostate cancer, which would take three years longer.”
“So the dilemma we’re facing right now is, do we go with the initial indication being prostate cancer and then hold off on the development and the approval [for] ovarian [cancer] because the clock will be started with prostate?””
Disease Area: Oncology
Drug Type: Small Molecule
August 10, 2023
IDEAYA Biosciences
Negative Outlook
San Francisco, CA
51-200 employees
Disease Area: Oncology
Drug Type: Small Molecule
