Notwithstanding these provisions, the IRA’s impact on commercialization and competition remains largely uncertain.
All entries for: Biologic
March 5, 2026
Bayer-Leverkusen
Layoffs
Leverkusen, Germany
10,000+ employees
Bayer shed approximately 4,700 employees in 2025, dropping from 92,815 to 88,078 staff by year end. Cuts affected all functional areas including production, marketing, R&D, and administration, with personnel expenses declining by approximately $842 million.
Disease Area: Multiple
Drug Type: Biologic, Small Molecule
March 4, 2026
CAMP4 Therapeutics
Neutral Outlook
Cambridge, MA
1-50 employees
Additionally, the Inflation Reduction Act of 2022 includes several provisions such as drug pricing controls and Medicare redesign that are likely to continue impacting our business to varying degrees, but we cannot predict the exact nature of its future effects on our business and the healthcare industry in general
Disease Area: Metabolic Diseases, Neurological Diseases, Rare Diseases
Drug Type: Biologic
March 4, 2026
Invivyd, Inc
Neutral Outlook
New Haven, CT
51-200 employees
The Inflation Reduction Act of 2022 (the “IRA”), among other things, permits the HHS to negotiate prescription drug prices with companies, subject to a specified cap, for Medicare units of a specified number of certain FDA approved or licensed brand name drugs or biologics without generic or biosimilar competitors each year, with such prices first set to take effect starting in 2026 for such products reimbursed under Medicare Part D and in 2028 for products reimbursed under Medicare Part B
Disease Area: Antiviral, Immune Diseases, Infectious Diseases
Drug Type: Biologic
March 4, 2026
Cellectar Biosciences
Neutral Outlook
Florham Park, NJ
1-50 employees
Additionally, in August 2022, President Biden signed into law the Inflation Reduction Act of 2022, which implements substantial changes to the Medicare program, including drug pricing reforms and creation of new Medicare inflation rebates
Disease Area: Hematology, Oncology, Rare Diseases
Drug Type: Biologic, Small Molecule
March 4, 2026
TScan Therapeutics
Neutral Outlook
Waltham, MA
51-200 employees
The outcome of these challenges on the IRA, and the effects of the IRA on our business and the healthcare industry in general are not yet known.
Disease Area: Hematology, Immune Diseases, Oncology
Drug Type: Biologic
March 3, 2026
Lineage Cell Therapeutics
Neutral Outlook
Carlsbad, CA
51-200 employees
In August 2022, the Inflation Reduction Act of 2022 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. Among other things, the Inflation Reduction Act of 2022 requires manufacturers of certain drugs to engage in price negotiations with Medicare (beginning in 2026), with prices that can be negotiated subject to a cap; imposes rebates under Medicare Part B and Medicare Part D to penalize price increases that outpace inflation (first due in 2023); and replaces the Part D coverage gap discount program with a new discounting program (beginning in 2025). The Inflation Reduction Act of 2022 permits the Secretary of the HHS to implement many of these provisions through guidance, as opposed to regulation, for the initial years.
Disease Area: Endocrinology, Neurological Diseases, Rare Diseases
Drug Type: Biologic
March 3, 2026
Passage Bio
Negative Outlook
Philadelphia, PA
51-200 employees
Thus, while it is unclear how the IRA will be implemented, it will likely have a significant impact on the pharmaceutical industry and the pricing of our products and product candidates.
Disease Area: Neurological Diseases, Rare Diseases
Drug Type: Biologic
March 3, 2026
Immunome Inc
Negative Outlook
Bothell, WA
201-500 employees
For example, on August 16, 2022, the Inflation Reduction Act of 2022, or the IRA, was signed into law, which among other things, extends enhanced subsidies for individuals purchasing health insurance coverage in ACA 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 creating a new manufacturer discount program. The uncertainty around the future of the ACA and other health reform measures, and in particular the impact to reimbursement levels, may lead to uncertainty or delay in the purchasing decisions of our customers, which may in turn negatively impact our product sales.
Disease Area: Oncology, Rare Diseases
Drug Type: Biologic, Small Molecule