NEW YORK — Biotech investors don’t often publicly lay out their strategies, but an executive with a top investment firm on Tuesday offered a rare glimpse into the math he and others like him are doing after Democrats empowered Medicare to negotiate drug prices.
Peter Thompson, a general partner at investment giant OrbiMed Advisors who has spent around four decades in oncology drug development, laid out several ways the law will steer capital to a packed audience at a New York City conference sponsored by the Biotechnology Innovation Organization.
Drugmakers warned ahead of passage that if Democrats decided to pass the Inflation Reduction Act, it would affect investors’ incentives in an already difficult time for small biotech companies. Thompson said he had also advocated against the law’s passage in the Senate.
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