Biopharma’s Innovation Defense Is Crumbling
The debate over price 'negotiation' in the US has taken a turn for the worse for innovator pharma companies. The Democratic party seems eager to plow forward no matter what the impact is on innovation – and some patient advocates are surprisingly eager to cheer them along.
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White House Council of Economic Advisors says US House drug price “negotiation” bill will reduce the number of innovative medicines by 100 over a decade; the Congressional Budget Office says more like 8-15. Both analyses miss the point – but also show that industry is losing a crucial piece of political ground.
In interview with the Pink Sheet, Jim Greenwood also worries about President Trump promoting drug pricing policies that could hinder innovation.
The seven-figure DTC ad campaign is an unusual tactic for the generics industry, which typically uses other channels for its advocacy.