IRA Drives Pfizer’s Decision to Focus on Biologics, Not Small Molecules

Pfizer late last week briefed investors on the strategic priorities for its oncology business, which will be built on a portfolio focused more on antibody-drug conjugates and bispecific antibodies and far less on small molecules. Pfizer executives said the company's change in business strategy is motivated in part by the disparity in how the Inflation Reduction Act’s drug price negotiation provisions treat biologics versus small molecule drugs.