WASHINGTON, D.C. – U.S. Chamber of Commerce Executive Vice President and Chief Policy Officer Neil Bradley issued the following statement today after the White House issued Executive Orders on drug pricing.
“The extent of U.S. leadership in bio-pharmaceutical research and development has never been more evident or important than in the COVID-19 pandemic. Importing price controls from foreign countries is flawed and dangerous policy that will result in a substantial reduction in investment in new cures and drugs at the worst possible time. We are all relying on America’s pharmaceutical innovators at this critical time.
“Price controls are bad for seniors, the economy, and innovation. We urge the administration to reconsider this approach, and the U.S. Chamber is assessing options to challenge this misguided policy. Rather than importing price controls, we encourage policymakers to focus on ensuring that other countries bear their fair share of the burden of the significant costs of drug research and development.”
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