Inflation Reduction Act Impact on the Biotech Industry
The Inflation Reduction Act (IRA), enacted in August 2022, emerged as a central topic of discussion at the annual Biotech Showcase held in San Francisco last January.
This new legislation carries the potential to significantly influence drug development and pricing, with studies indicating a possible 31 percent decline in profits and potential reductions in drug approvals in the years ahead.
Neal Masia, Co-founder and CEO of EntityRisk, addressed attendees, highlighting the evolving landscape for biotech and healthcare companies. He emphasized the growing societal demand to comprehend the value of innovative advancements, …