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The Inflation Reduction Act: How Drug Price Controls Could Disrupt Clinical Trials and Stifle Medical Innovation https://hubs.la/Q01-phrN0 Drug pricing controls imposed by the Inflation Reduction Act of 2022 may appear positive for patients in the short term. However, these controls may have unintended consequences on biopharmaceutical drug development programs and investments in the long term unless this pressure is offset by the opportunity to modernize the way clinical trials are conducted. Smaller and emerging biopharmaceutical companies are struggling to overcome these new challenges. Dr. Harsha Rajasimha, Founder and CEO of Jeeva Informatics, sees an opportunity amidst these developments and has a plan to help biopharmaceutical and medical device sponsors overcome these cost pressures by minimizing the expense of executing early-phase clinical trials. We have a plan to help address the current crunch for the Biopharmaceutical industry. Let us know your thoughts below in comments. Jeeva Informatics Solutions Inc. #IRA2022 #Inflationreductionact #Drugpricing #clinicaltrials #emergingpharma #Biopharma Virginia Bio Institute for Biohealth Innovation BioHealth Innovation, Inc. BioBuzz VIPC | Virginia Innovation Partnership Corporation Biotechnology Innovation Organization
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1yHarsha K Rajasimha While the intention behind the Inflation Reduction Act is undoubtedly noble, we must approach with caution. As you stated above, the unintended consequences may have a domino effect. Price controls, although beneficial in the short term, could potentially disrupt the delicate ecosystem of clinical trials. By capping financial incentives, we risk slowing down the momentum in medical innovation. A holistic solution should ensure affordability without compromising our pursuit of groundbreaking medical advancements. Cheers for this fantastic article. More importantly providing solutions.