A Price Control Odyssey : The Inflation Reduction Act’s Effects on the Innovation Ecosystem
1:45 PM - 2:45 PM (EDT), Wednesday, June 7, 2023 ・ Session Room 254B
The Inflation Reduction Act (IRA) contains some of the most significant changes to prescription drug pricing, reimbursement, and access since the Affordable Care Act was enacted over a decade ago. A new study by Vital Transformation, a health care economics consultancy, looks at the economic impacts on the innovation ecosystem and access to new therapies, with a particular focus on drug discovery and rare disease. As the federal government implements the price control provisions of the IRA, biotech hubs like Boston, Massachusetts- home to a significant number of established and emerging biotech companies- will bear the brunt of those impacts as they manage R&D pipelines. Panelists will discuss the studies findings, and look at the chilling effects on venture funding, orphan drug impacts, and reduced treatments reaching patients.