Drug Pricing Reform: President Biden, in remarks delivered on Sept. 27, 2022, touted insulin pricing provisions in H.R. 5376, the Inflation Reduction Act of 2022 (IRA), which became law on Aug. 16, 2022. He referred to reducing the cost of prescription drugs as “one of my top priorities,” stating that “for years, Big Pharma has stood in the way,” but that this year “the American people won, and Big Pharma lost.”