Incubate Statement on Federal Drug Price Provisions

See Incubate's statement in response to the recent Reconciliation bill text on drug price controls.

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07.06.2022

Incubate Executive Director John Stanford issued the following statement in response to the recent drug pricing package released:

Last fall, the best and brightest from the world of biotechnology and pharmaceutical innovation came to Washington to tell policymakers that the proposed drug pricing legislation now being considered in the Senate was a mistake. Instead, they urged Congress to consider real reforms that benefit patients directly and tackle hard issues of broken payer systems and unnecessary middlemen. As Senate Democrats submit their legislation for consideration for a partisan approval process, it is clear those concerns were not heard.

Recent failures in the areas of Alzheimer’s, ALS, and rare cancers should be a reminder that we need more investment and effort for the next generation of medicine, not less. In short, pursuing this proposal – while good politics – does little to address our broken healthcare system, disincentivizes future innovation and shelves bipartisan efforts to help our country succeed for decades to come.