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Secretary Azar’s plan to lower drug costs could have unfortunate side effects.

By Stephen Moore

From National Review:

No nation has come close to the United States in finding new cures for painful and deadly diseases. And no industry in the history of mankind has done more to preserve life and reduce pain and suffering than the U.S. pharmaceutical companies. So why is this industry suddenly a villain?

The U.S. accounts for over half of all new wonder drugs developed in recent decades, according to the Milken Institute. The age-adjusted death rate from cancer and heart disease has fallen by almost half since the 1960s — a miracle of human discovery and innovation. This isn’t just because we have the most brilliant and innovative medical researchers or because we have the world’s best labs — which we do — it’s also because we provide a financial incentive for drug development.
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