In August 2022, Congress passed the Inflation Reduction Act of 2022, which includes prescription drug provisions that have significant implications for the pharmaceutical industry and Medicare beneficiaries, including allowing the federal government to negotiate a maximum fair price for certain high-priced single source Medicare drugs that have been on the market for at least 7 years and biologics that have been on the market for at least 11 years, and, imposing penalties and excise tax for manufacturers that fail to comply with the drug price negotiation requirements; requiring inflation rebates for all Medicare Part B and Part D drugs, with limited exceptions, if their drug prices increase faster than inflation; and redesigning Medicare Part D to reduce out-of-pocket prescription drug costs for beneficiaries, among other changes.
All entries for: Respiratory Diseases
BiomX
Layoffs
Tel Aviv, Israel
51-200 employees
BiomX laid off a significant portion of its staff in December following the discontinuation of its Phase 2b multi-phage cocktail BX004 for cystic fibrosis, after an external data monitoring committee identified unexpectedly high rates of adverse events.
4D Molecular Therapeutics
Neutral Outlook
Emeryville, CA
201-500 employees
While the impact of the IRA on the pharmaceutical industry cannot yet be fully determined, it is likely to be significant.
Cumblerland Pharmaceuticals
Neutral Outlook
South San Francisco, CA
51-200 employees
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 that it will not affect our patent strategy in the long term.
GSK plc
Negative Outlook
London, England
10,000+ employees
In ovarian cancer, Zejula saw a decrease in sales, driven by ongoing volume reductions, including impacts of an FDA labelling update restricting use to certain patient populations, and the impacts of IRA Medicare Part D redesign in the US
Liquidia Corp
Neutral Outlook
Morrisville, NC
51-200 employees
For these and other reasons, it is currently unclear how the IRA will be effectuated and the impact of the IRA on the pharmaceutical industry and on generic drug pricing cannot yet be fully determined
Contineum Therapeutics/CA
Negative Outlook
San Diego, CA
51-200 employees
The IRA and any other similar laws introduced in the future may result in additional reductions in Medicare and other healthcare funding, which could negatively affect our future revenues and results of operations.