The introduction of the Inflation Reduction Act (IRA) in 2022 has significantly impacted the oncology drug development landscape, necessitating a shift in strategic decision-making. The legislation has already influenced drug pricing and is expected to further alter patient costs and benefit structures by 2026.
Businesses must adapt their strategies, including portfolio management and geographical expansion, to navigate this new landscape. The IRA has also prompted a re-evaluation of traditional product development paradigms, such as moving to earlier lines of therapy quicker. However, the primary focus remains on meeting regulatory standards and prioritizing patient needs. The IRA also presents opportunities for growth and innovation in the pharmaceutical industry.
Read our paper to get some insight into recommendations on navigating this intricate post-IRA landscape and ensuring profitability and growth in the face of change.
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