“Material Adverse Effects” on Sales, Business and Operations – Endpoints News

Biopharma giant Amgen has made it clear that President Biden’s signature law authorizing Medicare drug price negotiations will have a negative impact on the company’s development, although how the negative impact will remain unknown.

“The IRA’s drug pricing controls and Medicare redesign could materially and adversely affect our sales (especially the greater reliance on Medicare reimbursements for our products), our business and the results of our operations,” California-based Amgen, of Thousand Oaks, said in a filing with the U.S. Securities and Exchange Commission this morning.

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