Bob Bradway, Amgen CEO (Justin Kase Conder/AP Images for Amgen)

Am­gen on IRA's drug price ne­go­ti­a­tions: 'Ma­te­r­i­al ad­verse ef­fec­t' on sales, busi­ness and op­er­a­tions

Bi­o­log­ic pow­er­house Am­gen is mak­ing clear that Pres­i­dent Biden’s sig­na­ture law au­tho­riz­ing Medicare drug price ne­go­ti­a­tions is go­ing to have a neg­a­tive im­pact on the com­pa­ny mov­ing for­ward, al­though how neg­a­tive re­mains un­known.

“The IRA’s drug pric­ing con­trols and Medicare re­design is like­ly to have a ma­te­r­i­al ad­verse ef­fect on our sales (par­tic­u­lar­ly for our prod­ucts that are more sub­stan­tial­ly re­liant on Medicare re­im­burse­ment), our busi­ness and our re­sults of op­er­a­tions,” Thou­sand Oaks, CA-based Am­gen said in an SEC fil­ing this morn­ing.

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