Pfizer's breast cancer treatment Ibrance and blood thinner Eliquis, which it shares with Bristol Myers Squibb, are likely to be among the first drugs subject to negotiation. Bourla does not think that Congress will act to change the law,and he is not optimistic about the plan's prospects.

Bourla has indicated that the law could be harmful to the industry and could cause a reduction in

innovation. However, he did acknowledge that the law could bring positive benefits to patients by

reducing their out-of-pocket costs for medicines. The US Centres for Medicare and Medicaid Services

is currently gathering input and feedback from interested parties, including drug manufacturers, to

revise the guidance on the drug pricing law by the summer of 2023. Pfizer plans to use the profits

made from COVID in 2021 and 2022, and what it will make in 2023, to acquire technology and

products that will allow them to battle cancer, which Bourla has dubbed the company's next moon-

shot.

Movement of Pfizer’s stocks in the last five years. (Source: Trading Economics)

Sources:

https://www.investing.com/news/stock-market-news/pfizer-pouring-covid-profits-into-cancer-

battle-ceo-bourla-says-3080381

https://www.reuters.com/business/healthcare-pharmaceuticals/pfizer-pouring-covid-profits-into-

cancer-battle-ceo-bourla-says-2023-05-11/

https://www.fiercepharma.com/pharma/pfizer-ceo-bourla-calls-medicare-ira-measure-negotiation-

gun-your-head

https://tradingeconomics.com/pfe:us