Just released from PRI – read The World’s Medicine Chest, the latest book from PRI President, CEO and Thomas W. Smith Fellow in Health Care Policy. <The World’s Medicine Chest explores how America became the world’s leader in biopharmaceutical innovation through market capitalism.
Click here to register to watch a special live webinar with Pipes on Wednesday, February 26 at 11 AM Pacific time, discussing her new book in conversation with PRI’s Dr. Wayne Winegarden.
In the 1970s, Europe was the global hub for pharmaceutical innovation. Fast forward and around two-thirds of new drugs developed in the last decade or so have originated in the United States, compared to just 22 percent from Europe. America did not become the world’s innovation leader because of government – private companies have long tackled complex health care problems far better than government agencies.
Unfortunately, Democrats and even some Republicans are now pushing the United States to follow Europe and embrace price controls on prescription drugs. This is a grave mistake.
As the book details, there are numerous market-based reforms that would do a far better job than government regulation in reducing drug costs and boosting access to cutting-edge treatments without sacrificing future innovation.
