In his latest op-ed, “Is cheaper better if it kills cancer cures?” Public Policy Solutions President Joe Grogan argues that while lowering drug prices is an important goal, focusing solely on cheaper medications can come at the cost of innovation and access to newer, more effective treatments. It warns that aggressive pricing policies from CMS could discourage pharmaceutical investment, ultimately slowing the development of breakthrough therapies that patients depend on.
In his op-ed, Joe writes:
“The law further compounds this problem by allowing Medicare price negotiations for small-molecule drugs — pills widely used in cancer treatment — four years earlier than biologic medicines. Drug manufacturers often conduct expensive follow-on studies several years after a drug’s initial approval to see whether it can work earlier in the disease, reduce side effects, or treat additional cancers. The shorter timeline before drug negotiations leaves less time for investments to pay off, weakening the incentive to fund research that can expand patient impact.”
Read the full op-ed at the Washington Examiner.