Forecasting the IRA Future
TL/DR –
The Inflation Reduction Act (IRA) is set to bring major changes to the pharmaceutical industry with the final negotiated maximum fair price for the first 10 selected products announced to take effect from January 1, 2026. The potential impact of the IRA on pharmaceutical patent dynamics, drug pricing and valuation, and existing incentives for post-approval research and development will be examined in a cross-disciplinary program that will also discuss pending legal challenges to the IRA. This program aims to help attendees understand the IRA’s impact on strategic investment decisions in pharmaceutical products, the biosimilar and generic markets, drug pricing dynamics, and the future impact of pending legal challenges to the IRA.
The Impact of the Inflation Reduction Act on the Pharmaceutical Industry
The Inflation Reduction Act (IRA) is poised to introduce considerable reforms to the pharmaceutical sector. The final maximum fair price (MFP) for the initial 10 chosen products was publicized on September 1, 2024, and will come into play on January 1, 2026, signaling a shift in the industry’s landscape.
Take part in our enlightening multi-disciplinary program that will delve into the potential influence of the IRA on pharmaceutical patent dynamics, drug valuation, pricing, and upcoming legal challenges against the IRA.
Main Topics of Discussion: Impact of IRA
- Modification of current incentives for post-approval research and development investment
- Strategic investment decisions concerning pharmaceutical products
- Changes in the biosimilar and generic markets, including market entry tactics
- Drug pricing dynamics, including recommended approaches for identifying and settling purchases for drugs subject to the MFP and eligible for 340B pricing
- Legal challenges to the IRA and their potential future implications on the program
Attendees can expect to earn pending CLE credit as McDermott is an accredited CLE provider in California, Illinois, and New York. Reciprocal credit can be issued for lawyers licensed in Connecticut, Florida, and New Jersey. For all other jurisdictions, attendees will receive a Universal Certificate of Attendance to self-apply for CLE credit in their admission state. Consult your state’s CLE Board for current rules, regulations, and guidance.
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