The IRA is anticipated to have significant effects on the pharmaceutical industry and may reduce the prices we can charge and reimbursement we can receive for our products, among other effects.
All entries for: Respiratory Diseases
February 17, 2026
Krystal Biotech
Neutral Outlook
Pittsburgh, PA
201-500 employees
It is unclear whether the Trump administration executive orders will lead to actual legislative initiatives. At this time, we continue to evaluate the effect of the IRA and the Trump administration’s executive actions on our business operations and financial condition and results as the full impact of the IRA and the executive actions remains uncertain.
Disease Area: Dermatology, Oncology, Other, Respiratory Diseases
Drug Type: Small Molecule
February 3, 2026
GSK
Layoffs
London, UK
10,000+ employees
Up to 350 people across GSK’s U.S. and U.K. workforces could lose their jobs as the pharma reorients its investments with its priorities. The layoffs are expected to affect fewer than 70 individuals in the US, and fewer than 50 in the UK.
Disease Area: Immune Diseases, Multiple, Oncology, Rare Diseases, Respiratory Diseases
Drug Type: Biologic, Small Molecule
January 8, 2026
Tessera Therapeutics
Layoffs
Somerville, MA
201-500 employees
A month after announcing a partnership with Regeneron to advance its lead gene editor, Tessera Therapeutics has disclosed it will lay off 90 employees. Endpoints News first reported the cuts. Several employees told Endpoints the layoffs will affect about 35% of the workforce. The cuts follow a 17% reduction in 2025 and 13% downsizing in 2024.
Disease Area: Chronic Disease, Multiple, Rare Diseases, Respiratory Diseases
Drug Type: Biologic
January 3, 2026
GSK
Layoffs
London, UK
10,000+ employees
Up to 350 people across GSK’s U.S. and U.K. workforces could lose their jobs as the pharma reorients its investments with its priorities. The layoffs are expected to affect fewer than 70 individuals in the US, and fewer than 50 in the UK, according to Fierce.
Disease Area: Immune Diseases, Multiple, Oncology, Rare Diseases, Respiratory Diseases
Drug Type: Biologic, Small Molecule
November 13, 2025
Trevi Therapeutics, Inc.
Neutral Outlook
New Haven, CT
1-50 employees
On August 16, 2022, the Inflation Reduction Act of 2022, or IRA, was signed into law by President Biden. The new legislation has implications for Medicare Part D, which is a program available to individuals who are entitled to Medicare Part A or enrolled in Medicare Part B to give them the option of paying a monthly premium for outpatient prescription drug coverage.
Disease Area: Multiple, Neurological Diseases, Respiratory Diseases
Drug Type: Small Molecule
November 12, 2025
CalciMedica, Inc.
Neutral Outlook
La Jolla, California
1-50 employees
For example, the Inflation Reduction Act (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. For small molecule medicines, the process begins seven years after initial approval by the FDA. 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: Chronic Disease, Gastrointestinal, Immune Diseases, Multiple, Respiratory Diseases
Drug Type: Biologic, Small Molecule
November 12, 2025
Theravance Biopharma, Inc.
Neutral Outlook
South San Francisco, California
201-500 employees
The Inflation Reduction Act of 2022 (the “IRA”) and was replaced with a new manufacturer discount program), rules regarding prescription drug benefits under the health insurance exchanges, changes to the Medicare Drug Rebate program, expansion of the Public Health Service Act’s 340B drug pricing program, fraud and abuse and enforcement. These changes have impacted previously existing government healthcare programs and have resulted in the development of new programs, including Medicare payment for performance initiatives and improvements to the physician quality reporting system and feedback program. However, the transition to a new US presidential administration could impact the policy priorities relating to healthcare programs and we are unable to precisely predict what actions the new administration will take.
Disease Area: Respiratory Diseases
Drug Type: Small Molecule
November 12, 2025
Lyra Therapeutics, Inc.
Neutral Outlook
Watertown, Massachusetts
51-200 employees
In August 2022, the Inflation Reduction Act of 2022, or IRA, was signed into law. The IRA includes several provisions that may impact our business to varying degrees, including provisions that establish a $2,000 out-of-pocket cap for Medicare Part D beneficiaries, impose new manufacturer financial liability on many drugs reimbursed under Medicare Part D, allow the U.S. government to negotiate Medicare Part B and Part D pricing for certain high-cost drugs and biologics without generic or biosimilar competition, and require companies to pay rebates to Medicare for drug prices that increase faster than inflation (first due in 2023). The IRA permits the Secretary of the Department of Health and Human Services (“HHS”) to implement many of these provisions through guidance, as opposed to regulation, for the initial years.
Disease Area: Respiratory Diseases
Drug Type: Small Molecule
November 6, 2025
Cidara Therapeutics, Inc.
Neutral Outlook
San Diego, CA
1-50 employees
For example, on August 16, 2022, the Inflation Reduction Act of 2022, or IRA, was signed into law, which among other things, extends enhanced subsidies for individuals purchasing health insurance coverage in Affordable Care Act marketplaces through plan year 2025. The IRA also eliminates the “donut hole” under the Medicare Part D program beginning in 2025 by significantly lowering the beneficiary maximum out-of-pocket cost and through a newly established manufacturer discount program
Disease Area: Infectious Diseases, Oncology, Respiratory Diseases
Drug Type: Biologic