The IRA Is Already Curtailing Small Molecule Drug Development. Here’s How to Reverse That.

Last month, Pfizer announced plans to pivot away from small molecule treatments in its oncology pipeline in favor of biologics. The pharmaceutical giant joins a growing list of companies shuttering small molecule programs.

These therapies haven’t lost their relevance in medicine; in fact, the scientific potential for small molecule discovery has never been brighter. But as anyone in the life sciences industry will tell you, many promising small molecules have lost significant investment appeal as a result of lopsided incentives favoring biologics in 2022’s Inflation Reduction Act.