It may take years before we can fully appreciate the impact of the Inflation Reduction Act on the pharmaceutical industry, but we’re already getting signs of the damage. In response, many have canceled drug-development programs, resulting in an unfortunate but predictable loss for patients nationwide. One poorly crafted provision is driving companies away from research into treating rare diseases. The company’s drug is currently marketed as treating only amyloidosis, and thus is exempt from Medicare’s price setting. If Alnylam proceeded with research into treating Stargardt, it would lose its exemption.

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