How Price Control Hurts Patients
Enacted in 2022, the Inflation Reduction Act(IRA) jeopardizes drug development and patient access to critical treatments, notably through its Medicare “price negotiation” provision, which is effectively government price control. Europe’s experience with similar policies led to a collapse in drug development and worse health outcomes significantly higher cancer mortality rates. Consequently, numerous patient advocacy groups are opposing their implementation in the U.S.
400,000 more deaths each year
If U.S. cancer patients had European cancer death rates
60% of new drugs
90% of new medicines
Medicare Price Controls Blow Up Biden’s ‘Cancer Moonshot’ on Launch Pad
By Michael Reilly
In February, President Biden relaunched the “Cancer Moonshot” program first begun during his vice presidency in 2016. He has now set an ambitious national goal: cutting the death rate from cancer by at least 50% over the next 25 years. A laudable goal, but unfortunately, another recent policy from his administration threatens to blow up his Cancer Moonshot while still on the launchpad.
impact of the inflation reduction act (IRA)
“Instead of cancer patients gaining increased access to the latest cancer drugs, they may soon wait years longer for a life-saving drug to reach their hands, if it comes at all.”
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ASBM’s Comments on the Medicare Drug Price Negotiation Plan: Protecting Patients and Ensuring Access to Medicines…
In the NEws
Amend law to combat skyrocketing colorectal cancer rates (opinion)
Drug-pricing rules in Inflation Reduction Act will stymie efforts to develop new treatments.
Reading Eagle | Andrew Spiegel
The purported goal of the Inflation Reduction Act (IRA) of 2022 is to lower healthcare costs for Americans.
USC Schaeffer | Dana Goldman, PhD, Joseph Grogan, JD,Darius Lakdawalla, PhD,Barry Liden, JD,Jason Shafrin, PhD,Kyi-Sin Than, MPHandErin Trish, PhD
The Ultimate Price Of Government Price Controls
Democrats have nudged the U.S. healthcare system closer to Canadian-style socialism with their recently signed, and dubiously named, Inflation Reduction Act.
Forbes | Sally Pipes
Learn more about IRA price controls and spread the word with these materials from ABSM.
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