Posted by Michael Wonder on 03 Oct 2019
Pelosi's plan to slash drug prices will backfire
2 October 2019 - Yes, prescription medicine costs too much. But stealth government price-setting isn’t the answer.
House Speaker Nancy Pelosi introduced legislation last month to lower the price of prescription drugs. That’s a worthy and achievable goal. Unfortunately, she gave a misleading explanation of how the law would work, obscuring its probable counterproductive effects.
Instead of pushing down prices by forcing drug companies to compete more vigorously, it would put them in the hands of government bureaucrats in a way that’s likely to restrict innovation and reduce access to many important medications.
