Inflation Reduction Act to have knock on effect on R&D, say biotech experts [Yahoo! Finance]
AstraZeneca PLC - American Depositary Shares (AZN)
Last astrazeneca plc - american depositary shares earnings: 2/5 04:00 pm
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Source: Yahoo! Finance
Speakers at the recently concluded BioTrinity conference were in particular concerned about the knock-on effects that the IRA may have on R&D, including a reduction in innovation. The IRA was introduced in 2022 and aims to curb inflation by allowing Medicare to negotiate prices and rebates for certain drugs from drug makers. Industry critics have said the IRA has far-reaching implications for biotech and pharma companies, including reduced drug pricing for Medicare patients, diminished returns for investors, and altered business strategies. “I think the effect on R&D to a degree is probably unintended, but I think those consequences might be fairly large,” said Duncan McHale, co-founder of Weatherden. Currently, the IRA has two different timelines for large (biologics) and small molecule therapeutics. Biologics can be selected for price negotiation 11 years after approval, with the price enacted 13 years post-approval. The law gives small molecule drugs a shorter, nine-year post
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AZN
Sec Filings
- 5/2/24 - Form 6-K
- 5/1/24 - Form 6-K
- 4/29/24 - Form 6-K
- AZN's page on the SEC website