U.S. Chamber: Most Favored Nation Drug Pricing Harms American Innovation and Investment in New Medicines

Friday, November 20, 2020 - 3:00pm

The U.S. Chamber will challenge this flawed and harmful policy

WASHINGTON, D.C. - U.S. Chamber of Commerce Executive Vice President and Chief Policy Officer Neil Bradley released the following statement today after the White House issued a rule on drug pricing: 
 
“The Most Favored Nation rule would implement harmful price controls, which could jeopardize access to new life saving medicines at a time when we need them most and undermine the ability of our most innovative companies to produce the next breakthrough treatment or cure.  
 
“U.S. leadership in biopharmaceutical research and development, rooted in respect for intellectual property rights and functioning markets, has proven its value in the COVID-19 pandemic, especially with recent announcements of two viable vaccines for FDA approval, and more in development. Unfortunately, bad policy proposals threaten to sabotage those capabilities just as the U.S. industry is delivering urgently needed solutions to the COVID-19 pandemic.   
 
“Price controls would duplicate the failed policy of countries with limited domestic capacity for innovation. We urge the administration to reconsider its approach, and the U.S. Chamber is assessing options to challenge this flawed policy.”