WASHINGTON — Pharma companies have long been warning Democrats’ drug pricing reforms could discourage investment in new medicines. But one major pharmaceutical company is nonetheless doubling down in the U.S. market.
Bayer plans to invest $1 billion on research and development this year in an effort to double its sales in the United States within a decade, the company announced in March.
Sebastian Guth, an executive at Bayer in charge of the pharmaceutical division in the United States, Canada, and Latin America, spoke with STAT this spring about how the Inflation Reduction Act is impacting his decisions to invest in up-and-coming companies. Guth is also on the board of directors of the industry’s two largest lobbying groups in Washington, PhRMA and the Biotechnology Innovation Organization.
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