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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Latest Content
- The U.S. Chamber of Commerce Global Innovation Policy Center urges the Centers for Medicare and Medicaid Services to re-evaluate the approach taken in the Agency's Draft Guidance, which proposes to implement the second year of the Medicare Drug Price Negotiation Program established by the Inflation Reduction Act.The U.S. Chamber of Commerce (“the Chamber”) appreciates the opportunity to share this statement for the record in advance of your Committee’s hearing entitled, “Ensuring Affordable & Accessible Medications: Examining Competition in the Prescription Drug Market.” Many of these medicines are only possible because of the tremendous ongoing medical innovation demonstrated by the business community to combat some of the world’s most debilitating diseases.Decades of successful public-private partnerships in the fight against cancer are under threat by a new proposal.Up to 44% fewer medicines will be launched in the United States because of government price controls, according to the 2024 Patient Access Report.Government price controls will lead to sharp declines in U.S. clinical trial research for major public health issues like cancer, Alzheimer's, and obesity—threatening patient access to new medicines, according to a new U.S. Chamber study.According to a new U.S. Chamber study, access to medical innovation thrives in countries with smart public policies and free market competition.
