PhRMA presents new reason to disfavor Inflation Reduction Act
US pharma trade group the Pharmaceutical Research and Manufacturers of America (PhRMA) has offered research suggesting the Inflation Reduction Act (IRA) could undermine the development of biosimilars.
The IRA, one of President Joe Biden’s signature legislative achievements, enables administrators at Medicare, America’s public insurance fund, to negotiate certain drug prices with developers directly.
Since before it was signed into law, PhRMA has lobbied consistently against the act, and joined a suite of drugmakers in launching legal action to stop its implementation.
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