False Choice: Drug Price Reductions Won’t Undermine Innovation, Bentley Researchers Argue
Paper by Bentley University researchers and West Health considers the impact of drug pricing reforms on large and small biopharma companies if Medicare is authorized to negotiate drug prices.
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US drug pricing legislation that has picked up momentum could stymie R&D investment and curb the revenue tail for some big drugs, industry says, but CEOs also expect they can navigate the challenge.
The US president’s remarks appear aimed at drawing more support for the negotiation policy. But critics are likely to be skeptical about whether such a process could result in a “fair” price.
White House Council of Economic Advisors says US House drug price “negotiation” bill will reduce the number of innovative medicines by 100 over a decade; the Congressional Budget Office says more like 8-15. Both analyses miss the point – but also show that industry is losing a crucial piece of political ground.