Big Pharma Vs. Washington – An Opportunity To Buy Pfizer

As I mentioned on my last Blog Post, blood clot drug Eliquis, sold by both Bristol Myers Squibb

BMY
and Pfizer (PFE), is likely to face price controls under the Inflation Reduction Act (IRA). Recall that Bristol and Merck have each sued Uncle Sam over a Medicare price renegotiation program in the IRA that was passed last August, calling the program a sham, an extortion and unconstitutional.

Though not as much of a potential risk to Pfizer as to Bristol Myers, Eliquis was responsible for nearly a tenth of non-Covid related revenue a year ago. Moreover, Eliquis cost the U.S. government more than $12 billion in 2021 according to the Centers for Medicare & Medicaid Services.