12
Oct
2022
Inflation Reduction Act: Big Changes Lurking for Drug Development
Seven years ago, Martin Shkreli raised the price on Daraprim, an old generic drug that’s vital for some HIV patients. The price rocketed up 5,000 percent – from $13.50 a tablet to $750.
Outrage ensued. The backlash was felt across the entire biopharmaceutical industry. Then-presidential candidate Hillary Clinton vowed, in a tweet, to “lay out a plan to take…on” drug price gouging. The XBI biotech stock index lost about half of its value over the next year.