US drug pricing reform in Inflation Reduction Act could harsh pharma's credit, Moody's says

The Democrat-backed Inflation Reduction Act (IRA)—rebuked by trade groups and Big Pharma CEOs alike—has officially flown Capitol Hill and been signed into law by President Joe Biden. While it will take several years for the sweeping law’s drug pricing provisions to materialize, the legislation offers the U.S. a chance to make good on decades of talk about slashing prescription drug costs.