Up­dat­ed: Eli Lil­ly blames Biden's IRA for can­cer drug dis­con­tin­u­a­tion as the new phar­ma play­book takes shape

Eli Lil­ly laid blame Tues­day af­ter­noon on Pres­i­dent Joe Biden’s In­fla­tion Re­duc­tion Act as the rea­son it scrapped a $40 mil­lion can­cer drug.

As part of its third quar­ter up­date ear­li­er Tues­day morn­ing, the Big Phar­ma re­vealed it had re­moved a Phase I drug li­censed from Fo­s­un Phar­ma, a BCL2 in­hibitor that had been un­der­go­ing stud­ies for a va­ri­ety of blood can­cers. Though the rea­son­ing had been ini­tial­ly un­clear, an Eli Lil­ly spokesper­son told End­points News in an email that “in light of the In­fla­tion Re­duc­tion Act, this pro­gram no longer met our thresh­old for con­tin­ued in­vest­ment.”

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