Foreign Price Controls on Medicines Are a Step in the Wrong Direction
Price Controls Hurt American Patients
Price controls threaten to undermine the innovation ecosystem that has made the United States a global leader in medical advancements.
The U.S. Chamber of Commerce is leading the charge against harmful price control policies.
Our research reveals that such policies deter investment in life-saving treatments, delay patient access to new medicines, and jeopardize the development of groundbreaking cures for chronic and life-threatening diseases. We are committed to protecting American patients and ensuring they continue to benefit from the world’s most advanced and accessible healthcare innovations.
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The MFN Trap: Copycat Price Controls Threaten Tomorrow's Cures
MFN pricing undermines innovation, delays treatments, and threatens economic growth.
What You Need to Know About Foreign Price Controls
- Fact:Patients in countries with price controls must often wait up to 500 days before they can receive the treatment they need.Read More
- Fact:Most-Favored Nation (MFN) pricing risks undermining the U.S. economy by jeopardizing up to 2.2 million high-skilled, high-paying jobs in the biopharmaceutical sector and its supply chain.Read More
- Fact:MFN pricing could reduce U.S. life sciences R&D spending by 18.5% and cut clinical trial activity by up to 75%.Read More
- Most-Favored Nation (MFN) pricing threatens the U.S.'s leadership in biopharmaceutical innovation by disincentivizing investment in research and development, which is critical for discovering new treatments and cures.
- Importing foreign price controls into the U.S. healthcare system undermines the innovation ecosystem, delaying access to life-saving medicines and jeopardizing future medical breakthroughs.
- Instead of adopting harmful price control policies, the U.S. should focus on market-driven solutions that lower costs while preserving the incentives that drive medical innovation and protect patient access.
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- Small molecule medicines are essential for addressing chronic health conditions, particularly for older Americans.Price controls on medicines may seem like a quick fix, but they ultimately hinder medical innovation and harm patients by reducing the availability of new treatments and cures.Market-restrictive policies like price caps are causing more harm than good for pharmaceutical innovation, and orphan medicines are no exception.The American innovation pipeline has the potential to end cancer as we know it, but this promise is at risk unless policymakers reverse course.The CBO’s report reveals that proposed policies to reduce prescription drug prices would have minimal impact on costs while significantly hindering medical innovation.Policies that governments put in place can either help foster investment in innovation or stop it in its tracks. Market restrictive policies—such as price controls—lead to fewer new medicines, less research and development (R&D) into new treatments, and longer wait times for patients. These policies will also cause America to forfeit its global leadership in life-science innovation.The Administration's price controls on lifesaving medicines hinder patient access and innovation, emphasizing the need for market-driven solutions.
