In particular, the IRA measures to control inflation have implications for future drug pricing. Our pharmaceutical and biotech customers rely on predictable pricing to fund research and development efforts. If pricing flexibility is constrained, these companies may limit spending on their pipeline, which may adversely affect the future revenue of our biologics and drug delivery business. The One Big Beautiful Bill Act includes significant reductions in Medicaid funding, which could impact demand and reimbursement for our products and the therapies of our pharmaceutical and biotech customers. It is unknown what form any future changes or any law would take and how or whether it may affect our business in the future.
