BBB’s Drug Price Controls Are More Deadly than COVID

A new study by Tomas Philipson and Troy Durie of the University of Chicago finds that the drug price reductions (take the government price or get taxes 95% of total sales) in the House-passed budget blowout bill would have a devastating effect on new drug breakthroughs.

According to the study the caps on drug company profits would cause:

• An 18 percent decline — that’s $663 billion — in research and development spending through 2039.

• 135 fewer new drugs available to patients.

• A seven-year delay for approving new drug therapies.

• A loss of 331.5 million life years in the United States through 2039.

Amazingly, the study finds that the price controls will be much more deadly than COVID causing 30 times more lost years of life than the pandemic has to date.

So much for the race for the cure.

https://cpb-us-w2.wpmucdn.com/voices.uchicago.edu/dist/d/3128/files/2021/08/Issue-Brief-Drug-Pricing-in-HR-5376-11.30.pdf

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