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Democrats’ drug price control plan will not only hurt, but will not help Americans by squeezing innovation and cures

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We are entering one of the most exciting periods of biomedical innovation and advancement in American history. Competition for disease treatment or prevention is encouraged. But this progress will be lost if Congress passes government drug pricing regulations. This ends the promise of innovation and prevents patients from benefiting from next-generation treatments.

Americans enjoy unprecedented access to new treatments. Of the 460 new drugs approved globally since 2012, 85% are available to Americans, compared to just 59% in the UK and 44% in Canada. Of the 123 new cancer drugs, 93% are available in the US, compared to only 69% in the UK and 59% in Canada. For government price controls to work, these countries must deny and distribute care to their citizens.

Our system thrives on access and innovation. Government bureaucrats cannot decide whether we have access to drugs.

Of course, no system is perfect. Our healthcare system needs real reform, not good gestures that cause longer-term problems, and no real savings in drug prices.

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Democrat proposals usually just shift costs so they can hide who pays what. For example, the Affordable Care Act does not reduce medical costs. It simply passed on the cost of health care to taxpayers and raised premiums for those who insured through their employers. Additionally, the latest settlement bill excludes Medicare “savings” from the price control clause to pay her ACA grants to wealthy individuals.

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Under this same proposal, at least 15% fewer drugs would be developed and brought to market over the next 17 years. Do you want to accept delaying Alzheimer’s cure by a decade or more? is trying to force the

Over 6 million Americans are living with Alzheimer’s. We all know and love those affected by this relentless disease. This year, the health system will cost him an estimated $321 billion, and by 2050 he is expected to exceed $1 trillion. Only 10% of the total cost spent on older people with Alzheimer’s disease is spent on prescription drugs. All others are hospitalizations and long-term care. Without many of these drugs, we would live far beyond our hospital bills and live a shorter, lower quality life. what is the value of

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It’s easy to politically demonize pharmaceutical companies, but Democrats believe the industry saved us from a pandemic, developed a miracle gene therapy that put terminal cancer in complete remission, and cured hepatitis C. must remember. Allow them to fail and try again. None of the above happened overnight. It was made over decades.

There are basic economics as to why it was the first and best in the industry. First, the industry is increasing its spending on R&D, which totaled $120 billion last year alone. However, it often takes 15 years for that investment to reach the pharmacy counter. But in the end he fails 90% of the time.

Democrats must remember that this industry rescued us from a pandemic, developed a miracle gene therapy that put terminal cancer into incomplete remission, and cured hepatitis C.

All that money is spent at great risk where investors don’t know what works and what doesn’t. If the federal government removes incentives to make riskier investments, R&D spending will fall.

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Look at the EU. Once that governing body dominated the pharmaceutical industry, venture capital, patent registrations, and other key factors denoting a strong industry declined significantly. The US, on the other hand, continues to grow, evidenced by numbers and local pharmacies.

The pain for us is in pharmacies with increasing out-of-pocket costs. Unlike other healthcare categories, retail prescription drugs account for only 8% of national healthcare spending. List prices have fallen below inflation, but drug price negotiators have gotten more discounts, but patients have been forced to pay more out-of-pocket. Over 50% of the list price of many prescription drugs. These rebates must be paid to patients and our system needs a solution to this shortcoming.

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Republicans have a solution. I worked with Senator Michael Crapo of R-Idaho and my colleagues to introduce the Lower Costs, More Cures Act, which includes more than 20 of his policies to address the shortcomings of drug pricing. Like the Secure Innovation Act and the ACT for ALS, new laws that we helped create and support and helped bring down drug prices, this law will create a competitive, innovative, and safe environment for the approval of new treatments. promotes a more efficient path through

The president’s goals of making medicines more affordable for Americans, maintaining an R&D pipeline for future treatments, and curing cancer all have something in common. But without the drive and incentives to innovate, there will be no progress.

Click here to read more about SEN.Roger Marshall, M.D.

Republican Roger Marshall, M.D., represents Kansas in the U.S. Senate. Previously, he was a member of the House of Representatives for the Kansas First District. Prior to Congress, Dr. Marshall served as an obstetrician and gynecologist in Great, Kansas. He received his MD in 1987 from the University of Kansas School of Medicine.

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