Rainer Westermann, Chairman of LSAA, Yann Le Flohic, Deputy Chairman of LSAA and John Standford, Executive Director of Incubate Coalition discuss the Inflation Reduction Act (IRA) in the United States and its implications for the European Life Science Community. Incubate is a 501 (c)(4) organization made up of American venture capital firms representing the patient, corporate, and investment communities. In August 2022, the U.S. Congress voted to pass the Inflation Reduction Act (IRA). The IRA features significant changes to federal prescription drug pricing policies through Medicare. The bill also includes a three-year extension of expanded Affordable Care Act (ACA) provisions through 2025. The legislation will have a lasting impact on the life sciences industry in the United States. These American policy changes may impact the European life science industry in preparation of the European Commission’s pharmaceutical legislation updates coming in December 2022.