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Updated: Eli Lilly blames Biden's IRA for cancer drug discontinuation as the new pharma playbook takes shape

π—§π—΅π—Άπ—»π—Έπ™π˜Όπ™Žπ™. As November began, Eli Lilly blamed the Inflation Reduction Act for its decision to cancel the development of two early stage products, one for cancer, one for chronic pain. Quite simply (?) the β€œNew Pharma Playbook” that is evolving under the IRA, which allows the Federal Government to negotiate prices on some expensive drugs, has apparently made the economics of those ventures no longer attractive to the company. More recently, Bristol-Myers Squibb made a similar announcement.

We’re guessing these won’t be the last such decisions. The impact on American medical care, and that of the rest of the world for that matter, is yet to be determined. We’re not even sure the companies aren’t just bluffing for political purposes.
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