The impact of the IRA on us and the pharmaceutical industry cannot yet be fully determined, but is likely to be significant.
All entries for: Biologic
August 3, 2026
Jazz Pharmaceuticals plc
Negative Outlook
Dublin, Ireland
1,000-5,000 employees
The IRA also made several changes to the Medicare Part D benefit, including a limit on annual out-of-pocket costs and a change in manufacturer liability under the program, that could negatively affect our business and financial condition.
Disease Area: Multiple, Neurological Diseases, Oncology, Rare Diseases
Drug Type: Biologic, Small Molecule
July 31, 2026
Werewolf Therapeutics, Inc/MA
Neutral Outlook
Watertown, MA
1-50 employees
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.
Disease Area: Oncology
Drug Type: Biologic
July 29, 2026
Biogen Inc
Neutral Outlook
Cambridge, MA
5,001-10,000 employees
Drug prices are under significant scrutiny in the markets in which our products are prescribed; for example the IRA has certain provisions related to drug pricing, including the ability for the U.S. government to set prices for certain drugs in Medicare. We expect drug pricing and other healthcare costs will continue to be subject to political and societal pressures on a global basis. As the policy environment remains dynamic, we will continue to monitor how uncertainty with respect to how the U.S. and foreign tariffs and the U.S. and international pricing may impact our business in the future.
Disease Area: Immune Diseases, Multiple, Neurological Diseases, Psychiatry, Rare Diseases
Drug Type: Biologic, Small Molecule
July 29, 2026
GSK/England
Layoffs
London, England
10,000+ employees
“GSK’s $2.5 billion restructuring over the next three years will include global job cuts, the company announced in a July 29 media call. CEO Luke Miels declined to say how many employees the U.K. pharma will let go, saying he wanted his team to discuss the changes with staff first and would provide an update once the plans are implemented. He framed the effort as a reallocation toward new medicines.
GSK intends to use part of the expected savings to keep funding its late-stage portfolio and pipeline. Some will also go toward improving margins and profitability ahead of the 2028 U.S. patent expiry for its HIV medicine dolutegravir.”
Disease Area: Antiviral, Immune Diseases, Multiple, Oncology, Respiratory Diseases
Drug Type: Biologic, Small Molecule
July 28, 2026
Incyte Corp
Neutral Outlook
Wilmington, DE
1,001-5,000 employees
In addition, the Inflation Reduction Act of 2022 (the “IRA”) introduced several significant changes to Medicare, including: requiring CMS to negotiate prices for certain high-expenditure, single source Medicare drugs; imposing inflation-based rebates on manufacturers whose prices increase faster than inflation; redesigning the Medicare Part D benefit to cap beneficiary out-of-pocket costs while requiring manufacturers to provide mandatory discounts under the Medicare Part D Manufacturer Discount Program beginning in 2025; and establishing penalties for manufacturers that fail to comply with applicable Medicare Drug Price Negotiation Program requirements.
Disease Area: Dermatology, Immune Diseases, Multiple, Oncology
Drug Type: Biologic, Small Molecule
July 23, 2026
Clinuvel Pharmaceuticals
Layoffs
Melbourne, Victoria
51-200 employees
“As part of a reorganization to focus resources on the U.S. market, CLINUVEL PHARMACEUTICALS will cut its global workforce by 10% to 20%, the company announced Thursday. With 104 employees as of June 15 per an SEC filing, the layoffs could affect as many as 21 people.
The biopharma, which develops therapies for genetic, metabolic and dermatological disorders, will relocate its headquarters from Australia to New York in early 2027 to strengthen regulatory engagement and commercial partnerships. It noted that its late-stage programs, especially in vitiligo, mainly target the U.S. patient population, which it estimates at about 6 million.
CLINUVEL said the workforce reduction realigns operating costs with current revenue and near-term clinical and commercial priorities. It also called the restructuring a prerequisite to accessing deeper, more liquid capital pools in the U.S.”
Disease Area: Dermatology, Rare Disease
Drug Type: Biologic
July 8, 2026
Novartis
Layoffs
Basel, Baselstadt
10,000+ employees
“In its largest layoff round this year, Novartis is cutting its East Hanover, New Jersey, workforce for a fourth time, letting go of 322 employees and bringing the site’s total to 572. The cuts take effect Oct. 2, per a WARN Act notice.
The first three rounds at the Swiss pharma’s East Hanover site were disclosed in March, April and May, affecting 114, 60 and 76 employees respectively. All are effective this year.
In total, Novartis has announced or disclosed at least 792 job cuts in 2026. In May, the company confirmed to BioSpace it was laying off a select number of staff in its biomedical research arm. That same month, it announced the closure of a production site in Wehr, Germany by the end of 2028, eliminating 220 jobs.”
Disease Area: Cardiology, Dermatology, Immune Diseases, Multiple, Neurological Diseases, Oncology
Drug Type: Biologic, Small Molecule
July 6, 2026
BioNTech
Layoffs
Mainz, Rhineland-Palatinate
1,000-5,000 employees
“BioNTech will close its Berlin-based subsidiary JPT Peptide Technologies by year’s end, cutting about 140 jobs as it focuses on its late-stage oncology pipeline, per a quarterly report. JPT is a contract manufacturer specializing in peptide-based products and services.
The German company is also closing manufacturing sites in Idar-Oberstein and Marburg, along with CureVac’s facilities in Germany and abroad, by the end of next year, plus a Singapore site by Q1 2027. Those closures affect roughly 1,860 jobs.”
Disease Area: Oncology
Drug Type: Biologic