Richard Pops, Alkermes CEO (Patrick T. Fallon/Bloomberg via Getty Images)

In spin­ning out can­cer pipeline, Alk­er­mes cites In­fla­tion Re­duc­tion Ac­t's hy­po­thet­i­cal in­cen­tives for bi­o­log­ics R&D

Alk­er­mes an­nounced Wednes­day morn­ing it would siphon off its bur­geon­ing on­col­o­gy busi­ness, and cit­ed one of Pres­i­dent Joe Biden’s sig­na­ture pieces of leg­is­la­tion as a mo­ti­va­tor.

The Irish biotech de­cid­ed to spin out its can­cer pipeline in or­der to cap­i­tal­ize on bi­o­log­ics re­search, ex­ecs said Wednes­day, fol­low­ing Biden’s sign­ing of the In­fla­tion Re­duc­tion Act in­to law. With the com­ments, Alk­er­mes be­came the third bio­phar­ma com­pa­ny in the last week to cite the IRA in its busi­ness and R&D de­ci­sions, fol­low­ing Al­ny­lam and Eli Lil­ly.

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