US biotech industry keeps up fight against Inflation Reduction Act
Findings of a study funded by the US biotech industry suggest the Inflation Reduction Act could have a negative impact on drug development.
A signature piece of legislation from President Joe Biden, the act is designed to reign in drug and health insurance prices while addressing a number of other issues, including climate change.
Life science companies that are likely to be most impacted include oncology companies such as AstraZeneca (LSE: AZN) and Bristol Myers Squibb (NYSE: BMY), as well as insulin providers like Novo Nordisk (NOV: N).
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