STAT September 15, 2021
One of the fundamental principles on which the U.S. economy is based is that the expectation of a positive return drives one’s willingness to invest time and money. Individuals investing in a portfolio of stocks hope that some stocks’ gains will offset others’ losses. Yet Congress threatens to dismantle this framework, extinguishing an ecosystem that employs millions of people and serves as a global leader in creating new medicines for deadly diseases.
Legislators in Washington are considering a reconciliation package that would ostensibly enable Medicare to “negotiate” the price of medicines it covers for American seniors. Negotiation is a core principle of any market. We support that and want all insurance plans, including Medicare, to negotiate with competing companies to...
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