In this “Best of” edition, host Duane Schulthess revisits two landmark conversations on the long-term impact of the Inflation Reduction Act (IRA) on the biopharmaceutical industry. First, Peter Kolchinsky (Managing Partner, RA Capital Management; Steering Committee Member, No Patient Left Behind), explains why nine-year negotiation timelines for small molecules undermine early-stage R&D and how extending biologics to 13 years still falls short of the “social contract” Congress originally intended. Then, John LaMattina (former President of Pfizer Global R&D; Senior Partner, PureTech Health) discusses how real-world IRA pricing is reshaping pipelines, discovery priorities, and venture capital strategies.

Key Topics:
IRA negotiation timelines and their effect on R&D decisions
Differential price-setting mechanisms: nine years for small molecules vs. 13 years for biologics
Patient access challenges under out-of-pocket caps and the case for insurance reform
The march-in rights debate and its (limited) practical impact
Shifts in VC focus and logical portfolio rebalancing

Read our research on the impacts of the IRA: https://vitaltransformation.com/2025/04/inflation-reduction-act-two-years-on-investor-behavior-rd-impacts-proposed-solutions/

Originally broadcast Jan 17, 2024 and Mar 27, 2024. Edited and compiled Aug 2025. Opinions expressed are those of the speakers.

In this &ldquo;Best of&rdquo; edition, host <a href="https://www.linkedin.com/in/duane-schulthess-66ba39b7/">Duane Schulthess</a> revisits two landmark conversations on the long-term impact of the Inflation Reduction Act (IRA) on the biopharmaceutical industry. First, <a href="https://www.linkedin.com/in/peterkolchinsky/">Peter Kolchinsky</a> (Managing Partner, <a href="https://www.linkedin.com/company/ra-capital-management-llc/">RA Capital Management</a>; Steering Committee Member, <a href="https://www.linkedin.com/company/no-patient-left-behind/">No Patient Left Behind</a>), explains why nine-year negotiation timelines for small molecules undermine early-stage R&amp;D and how extending biologics to 13 years still falls short of the &ldquo;social contract&rdquo; Congress originally intended. Then,&nbsp;<a href="https://www.linkedin.com/in/john-lamattina-2985a9b/">John LaMattina</a> (former President of <a href="https://www.linkedin.com/company/pfizer/">Pfizer</a> Global R&amp;D; Senior Partner,&nbsp;<a href="https://www.linkedin.com/company/puretech-health/">PureTech Health</a>) discusses how real-world IRA pricing is reshaping pipelines, discovery priorities, and venture capital strategies.
Key Topics:
<ul>
<li>IRA negotiation timelines and their effect on R&amp;D decisions</li>
<li>Differential price-setting mechanisms: nine years for small molecules vs. 13 years for biologics</li>
<li>Patient access challenges under out-of-pocket caps and the case for insurance reform</li>
<li>The march-in rights debate and its (limited) practical impact</li>
<li>Shifts in VC focus and logical portfolio rebalancing</li>
</ul>
Read our research on the impacts of the IRA:&nbsp;<a href="https://vitaltransformation.com/2025/04/inflation-reduction-act-two-years-on-investor-behavior-rd-impacts-proposed-solutions/">https://vitaltransformation.com/2025/04/inflation-reduction-act-two-years-on-investor-behavior-rd-impacts-proposed-solutions/</a>
Originally broadcast Jan 17, 2024 and Mar 27, 2024. Edited and compiled Aug 2025. Opinions expressed are those of the speakers.

Duane Schulthess is the CEO of Vital Transformation, host and producer of Vital Health Podcast.  Vital Transformation understands the implications of new medical procedures, technologies and regulations. We measure their impact upon treatment pathways and the biopharma innovation ecosystem in collaboration with health care professionals, researchers, and regulators. Through our web platform and client network, we are able to communicate our findings with international decision makers and stakeholders.

Duane Schulthess is the CEO of Vital Transformation, host and producer of Vital Health Podcast.  Vital Transformation understands the implications of new medical procedures, technologies and regulations. We measure their impact upon treatment pathways and the biopharma innovation ecosystem in collaboration with health care professionals, researchers, and regulators. Through our web platform and client network, we are able to communicate our findings with international decision makers and stakeholders.

Duane Schulthess, Managing Director of Vital Tran…

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