๐ง๐ต๐ถ๐ป๐ธ๐๐ผ๐๐. 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 โNew Pharma Playbookโ 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.
Weโre guessing these wonโt 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. Weโre not even sure the companies arenโt just bluffing for political purposes.
Want to see the first volley? Go to:
https://endpts.com/eli-lilly-rolls-snake-eyes-as-it-axes-two-early-stage-drugs-including-a-40m-cancer-therapy-from-fosun/