Last month at a White House event, President Joe Biden and Sen. Bernie Sanders, I-Vt., took a victory lap for supposedly having “beat Big Pharma” through drug-pricing provisions in the Inflation Reduction Act. Beaming with pride, they hailed new powers for Medicare to “negotiate” drug prices as a historic achievement.
But their self-congratulation rests on a false premise. Far from being a big win for Americans’ health, the IRA bankrolls billions of dollars’ worth of left-wing policy priorities at the expense of life-saving pharmaceutical innovation and seniors’ access to new medicines.
Worse, Biden and Sanders are pushing to expand the IRA’s drug-price provisions further. Doubling down on failure will only compound the damage.
Nothing contained in this blog is to be construed as necessarily reflecting the views of the Pacific Research Institute or as an attempt to thwart or aid the passage of any legislation.
Inflation Reduction Act Will Destroy Drug Access
Sally C. Pipes
Last month at a White House event, President Joe Biden and Sen. Bernie Sanders, I-Vt., took a victory lap for supposedly having “beat Big Pharma” through drug-pricing provisions in the Inflation Reduction Act. Beaming with pride, they hailed new powers for Medicare to “negotiate” drug prices as a historic achievement.
But their self-congratulation rests on a false premise. Far from being a big win for Americans’ health, the IRA bankrolls billions of dollars’ worth of left-wing policy priorities at the expense of life-saving pharmaceutical innovation and seniors’ access to new medicines.
Worse, Biden and Sanders are pushing to expand the IRA’s drug-price provisions further. Doubling down on failure will only compound the damage.
Click to read the full article in Newsmax.
Nothing contained in this blog is to be construed as necessarily reflecting the views of the Pacific Research Institute or as an attempt to thwart or aid the passage of any legislation.