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Sounding the Alarm: Top Investors Warn Drug Pricing Bill will End Early-Stage Life Science Research
September 15, 2021 @ 12:00 pm - 3:00 pm
Incubate hosted the Sounding the Alarm: Top Investors Warn Drug Pricing Bill will End Early-Stage Life Science Research event at the National Press Club in Washington, DC. We were joined by 7 panelists from our network who spoke about the harms of price control legislation such as HR 3, and answered questions from reporters who had attended.
Panelists spoke about how passing legislation like HR 3 will bring research and development to near zero. If investors do not expect a positive return on their portfolio, they will be unable to provide capital to the industry and therefore new drugs will not come to market. Smaller biotechs will be forced to cut what they have and lose jobs in that industry, patients will lose out on cures that could have been invented but now will be unfunded, and this will be bad for healthcare spending since current drugs will not go generic and new ones will not replace them.
The panelists were venture capital investors, biotechs, and patient advocates:
- John Stanford, Incubate Coalition
- Peter Kolchinsky, RA Capital Management
- Jean Francois-Formela, Atlas Ventures
- Gunnar Esiason, Boomer Esiason Foundation
- Axel Hoos, Scorpion Therapeutics
- Joanne Kotz, Jnana Therapeutics
- Sarah Reed, RA Capital Management
- Arjun Goyal, Vida Ventures