RE:RE:RE:USA Inflation Reduction Act (IRA) 2022 Re: Biotech and China March 13, 2023 - "Unlike some of his pharma CEO peers who have lambasted the new law, Pfizer CEO Albert Bourla told investors on a call this morning that there are two specific factors pertaining to the IRA that will actually help with the combo of Pfizer and Seagen moving forward:
(1) The $2,000 out-of-pocket cap for seniors, which takes effect in 2025 and will mean that more of those on Medicare will be able to access expensive cancer drugs like those developed by Seagen. All four of Seagen’s currently marketed products have list prices of more than $100,000 per year.
(2) All but one of Seagen’s currently marketed drugs are biologics, which means longer exclusivity than small molecule drugs (13 years vs. nine years) under the IRA, prior to the government beginning its negotiations."
https://endpts.com/pfizer-ceo-points-to-ira-as-a-factor-that-made-seagen-an-attractive-target/