Will Price Controls Limit Drug Development? The Debate Heats Up

Pharmaceutical Executive September 3, 2021
Jill Wechsler, Pharm Exec’s Washington Correspondent

Legislative proposals for curbing outlays on prescription drugs have moved to center stage, as Congress looks hard for ways to pay for costly initiatives to repair the nation’s infrastructure, offset global warming and expand health care programs. These developments have focused attention on a recent report from the bipartisan Congressional Budget Office (CBO) analyzing how drug pricing policies could reduce the number of new therapies coming to market.¹ Industry has long warned of such an outcome and has ramped up efforts to preserve U.S. market support for global biopharma R&D.

The CBO report explains why companies investing in new drug development may drop long and costly research in some medicines if Congress approves legislation that permits Medicare to limit reimbursement...

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