Posted by Michael Wonder on 12 Dec 2018
Bernie Sanders' drug price controls would stifle medical innovation
11 December 2018 - Senator Bernie Sanders and Representative Ro Khanna recently proposed bills that would impose price controls on prescription drugs.
The legislation would require pharmaceutical companies to sell their medicines in the United States for no more than the median price charged in five countries – Canada, the United Kingdom, France, Germany, and Japan. If companies refuse to cut prices in the United States, the federal government could revoke existing patents or market exclusivities and allow generic drug manufacturers to sell knockoff copies of the medicines.
Such bills are deeply misguided. They'd stifle medical research, cutting Americans off from potentially life-saving new therapies.
