Biden And Trump Drug Pricing Policies Would Decimate Biotech, Drive Innovation To China

Both parties (Republicans, Democrats) would replace today’s market-driven system, which bases prices on the value of the product to the consumer, with controlled prices tied to those in countries where governments set reimbursement rates substantially lower than here. The resulting drop in revenue for the pharmaceutical industry would kill innovation in the U.S. and Europe and cripple the biotech community.