While the impact of the IRA on us and the pharmaceutical industry is likely to be significant, the impact on us cannot be fully determined.
All entries for: Biologic
February 25, 2026
Mirum Pharmaceuticals, Inc.
Negative Outlook
Foster City
201-500 employees
Adequate third-party reimbursement may not be available for Livmarli and other drug products we may develop to enable us to maintain price levels sufficient to realize an appropriate return on our investment in product development.
Disease Area: Rare Diseases
Drug Type: Biologic
February 24, 2026
Iovance Biotherapeutics, Inc.
Neutral Outlook
San Carlos, CA
501-1,000 employees
The impact of the IRA on the broader pharmaceutical industry remains to be seen. Certain legal challenges from pharmaceutical manufacturers and others in the industry continue, including challenges to the constitutionality and administrative implementation of the IRA’s drug price negotiation provisions.
Disease Area: Oncology
Drug Type: Biologic
February 24, 2026
United Therapeutics Corp
Neutral Outlook
Silver Spring, MD
1,001-5,000 employees
While the impact of the IRA on the pharmaceutical industry cannot yet be fully determined, it is likely to be significant.
Disease Area: Cardiology, Rare Diseases, Respiratory Diseases
Drug Type: Biologic, Small Molecule
February 24, 2026
AbCellera Biologics
Negative Outlook
British Columbia
501-1,000 employees
The implementation of cost-containment measures or other healthcare reforms may prevent us from generating revenue, achieving profitability, or commercializing our drug candidates if approved.
Disease Area: Dermatology, Endocrinology, Immune Diseases, Oncology
Drug Type: Biologic
February 24, 2026
Day One Biopharmaceuticals, Inc.
Neutral Outlook
Brisbane, CA
51-200 employees
These initiatives recently culminated in the enactment of the Inflation Reduction Act, or IRA, in August 2022, which will, among other things, allow the U.S. Department of Health and Human Services, or HHS, to negotiate the price of certain drugs and biologics that CMS reimburses under Medicare Part B and Part D.
Disease Area: Oncology, Rare Diseases
Drug Type: Biologic, Small Molecule
February 24, 2026
Harmony Biosciences Holdings, Inc.
Neutral Outlook
Plymouth Meeting, PA
201-500 employees
The Inflation Reduction Act (the “IRA”) was enacted in 2022. This statute marks the most significant action by Congress with respect to the pharmaceutical industry since adoption of the ACA in 2010. Among other things, the IRA requires manufacturers of certain drugs to engage in price negotiations with Medicare, with prices that can be negotiated subject to a cap
Disease Area: Neurological Diseases, Rare Diseases
Drug Type: Biologic, Small Molecule
February 24, 2026
Apellis Pharmaceuticals, Inc.
Neutral Outlook
Waltham, MA
501-1,000 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: Neurological Diseases, Rare Diseases
Drug Type: Biologic, Small Molecule