ARTICLE | Politics, Policy & Law

Navigating the Inflation Reduction Act

Why every biopharma, regardless of size or location, needs an IRA strategy

December 19, 2022 7:57 PM UTC

The Inflation Reduction Act is reconfiguring the commercial landscape so profoundly that a deep understanding of the law, and effective strategies for adapting to it, will become critical success factors for biopharmaceutical companies. IRA strategies are essential, regardless of a company’s size or geographic location, say investors, pharma CEOs, consultants, attorneys and former senior government officials who spoke with BioCentury.

Making plans for adapting to the changing environment is made more difficult by the discretion Congress gave CMS to implement the drug price-setting provisions of the law. The agency hasn’t announced its IRA policies, or whether and how it may seek public input as it develops them. ...