New IRA drug prices, many layoffs, Moderna's vaccine opportunity

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While the Democratic National Convention is underway, the Biden administration announces the first 10 drug prices The solution negotiated under the Inflation Reduction Act is likely a political move, but it is still unclear how much the government will actually save – and what kind of discounts patients will receive.

Separately, the biopharma industry has seen a spate of layoffs. Lykos Therapeutics reduced by 75% of his employees to the FDA Rejection its MDMA-assisted therapy for PTSD. The diagnostic company has now Gral separated from about a quarter of the workforce, and German biotechnology Evotec could 400 roles worldwide.

And as vaccine makers fall off the COVID-19 cliff, some are turning to combination vaccines for COVID flu. Pfizer and BioNTech announced last week that mixed data according to Moderna positive results earlier this summer.