With a year into the IRA, we are continuing to see the adverse impact on investment in innovation around key drugs, especially small molecules. At the recent 18th annual Fierce Pharma PR & Communications Summit in New Jersey, conversations centered around adapting communications to investors made increasingly risk averse given IRA’s limitations on long term profit.
Overheard at the conference:
- How will M&A strategy might get affected due to patent life reduction and drug price ceilings?
- The orphan drug and small molecule payment guidelines of IRA are continuing to skew R&D and deter risk averse investors
- Investors and other stakeholders are curious about possible changes to the IRA with an impending election cycle – and how are biotech’s continuing to adapt development to IRA constraints?
- Will it be more challenging to communicate the importance of small molecules since IRA skews to biologics?
- Who will continue to focus on orphan drugs?
- Will there be innovation or just more biosimilars?
It’s clear communicators not only need to adapt to these trends – they also need to channel the voices of their leadership in highlighting needed fixes to the IRA. As you continue adapting to this volatile communications environment, maybe Makovsky can help.
Click the contact button below and drop us a line. We look forward to chatting with you.
The Makovsky Life Sciences Team