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Prescription price-setting policies might impede medical innovation and research

If prescription price setting legislation stifles innovation and puts the next generation of treatments and cures for millions of Americans at risk, we will have lost our critical edge.

For so many people, the coronavirus pandemic hurtled us into a new way of living and created never-before-seen challenges, especially for those at greater risk because of age or underlying health conditions. Yet, thanks to the COVID-19 vaccines, we have been able to begin to return to a sense of normalcy once again. Receiving the vaccine was the relief needed after a long year.

The United States has been leading the charge in vaccine development and administration, something that could not have been done without the strength of research and development happening in the pharmaceutical industry.

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However, there have been recent policy proposals at state and federal levels that would threaten medical innovation and research. Prescription price-setting policies might impede medical innovation and research, which threatens the lives of individuals with rare diseases, chronic conditions, and at-risk populations.

Lowering patients’ health care costs and our nation’s spending on health care overall is an important goal. Developing innovative treatments to improve how we treat complex health challenges greatly reduces cost pressures facing patients and communities. Access is also key, and we must ensure patients can get the medicines that work best for them without the burden of high out-of-pocket or deductibles.

The U.S. could not be leading COVID-19 vaccine production and administration without innovation. If prescription price setting legislation stifles innovation and puts the next generation of treatments and cures for millions of Americans at risk, we will have lost our critical edge.

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