On September 11 at the Seoul Startup Hub Scale-Up Center and October 8 in Songdo, Dentons Lee’s Bio Team, foreign attorney Bernard K. Ham and senior attorney Peter Seung-Hun Lee, participated in the "Innovative New Drug Salon Seminar" under the theme "From the IRA to the Biosecure Act: U.S. Policy Changes Biotech Ventures Should Know."

Mr. Ham, as a speaker, explained the Biosecure Act and the Inflation Reduction Act (IRA), analyzing the impacts these laws have on the pharmaceutical industry. He explained that the Biosecure Act restricts cooperation with Chinese biotech companies, potentially benefiting non-Chinese companies, while the IRA’s drug price negotiation program could lead to reduced pharmaceutical revenues and negatively impact R&D investments.

Meanwhile, Mr. Lee also presented, providing key analysis on the impact of the overturning of the Chevron Doctrine on the pharmaceutical and biotech industries. He forecasted that the complexity of regulations would have widespread effects on the industry, and that the overturning of the Chevron Doctrine could result in increased litigation related to the FDA, ITC, and USPTO, with regulatory uncertainty potentially leading to reduced investments and delays in product development. He also predicted more lawsuits related to public insurance and drug price negotiations.

Additionally, on September 26, Bernard K. Ham introduced the potential impacts of the U.S. Biosecure Act and the Inflation Reduction Act on the biotech industry at the "K-BIC STAR DAY & Venture Café" held by the Korea Health Industry Development Institute (KHIDI) at the Health Industry Innovation Startup Center. Ham shared information to assist domestic startups in formulating strategies for overseas expansion and partnerships.

About Dentons

Across over 80 countries, Dentons helps you grow, protect, operate and finance your organization by providing uniquely global and deeply local legal solutions. Polycentric, purpose-driven and committed to inclusion, diversity, equity and sustainability, we focus on what matters most to you. www.dentons.com