New tax on pharmaceutical drugs from the 'inflation reduction act', really the slush fund and IRS bloating act:

Prescription drug pricing negotiation noncompliance excise tax
The bill seeks to achieve its goal of lowering prescription drug costs for Medicare patients by imposing a nondeductible excise tax on manufacturers, producers, or importers that fail to enter into negotiated drug pricing agreements. The tax would apply to each sale made during specified "noncompliance periods.”

Observation: The Congressional Budget Office (CBO) and the staff of the Joint Committee on Taxation (JCT) expect that no pharmaceutical company would fail to negotiate. As a result, no direct revenue gain is estimated to be raised from this excise tax provision. Each pharmaceutical company likely will assess strategic options for their portfolios and pipelines, which may lead to identifying anticipated and potentially unintended effects of the law, including:

Pharma adjusting strategic and operational levers to create value and sharpen focus on cost management, such as delivering ROI from automation and digital innovations, applying accelerated drug development lessons from COVID-19 to post-pandemic business, and implementing other approaches to reduce cycle times and decrease costs;
Higher launch prices, with companies expecting drugs to be negotiated for discounts after nine (small molecule) or 13 (biologics) years post launch;
Limited patent settlements that technically allow limited generic/ biosimilar entrants, therefore potentially deeming the drug no longer single source and eligible for negotiation;
Re-evaluation of discounts provided in the commercial market;
Re-evaluation of value provided through copay and patient assistance programs;
Removal of product(s) from the US market; and
Longer term, re-focusing drug development on assets less likely to be a top Medicare drug and/or exploring lifecycle options to shift sales to newer products.

1 "a nondeductible excise tax" They will just quit producing the drugs.

2 That's exactly what will happen. It's why Europe does so little in the way of R and D, I might add. We do most of it because we offer profit to the people taking the risk.

If profit dries up so too does production. Nobody wants to work for nothing.

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4 I might add. We do most of it because we offer profit to the people taking the risk.