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Dr. Scott Gottlieb: A Clintonian Misdirection on Drug Prices

September 30, 2015
Today’s Wall Street Journal contains an excellent op-ed by Dr. Scott Gottlieb, a physician and resident fellow at the American Enterprise Institute. Dr. Gottlieb takes aim at the recent proposal offered by the campaign of Secretary Hillary Clinton to aggressively regulate the price of innovative prescription medicines. BIO shared many of those concerns in our statement and a related blog post.

Dr. Gottlieb notes, “It’s important to distinguish between new medicines that are priced at a premium because they represent genuine innovation and risk-taking, and drugs that are priced high simply because investors are manipulating regulatory failures.”

He continues:
Yet Mrs. Clinton’s proposed policy changes are mostly focused on new medicines that are transforming the treatment of disease, but also take a lot of risk and cost to develop. More than 40% of the drugs approved by the FDA in 2014 treat rare or vexing medical problems, including a cure for hepatitis C, the first and only vaccine for meningococcal B, and a radical treatment for metastatic melanoma—a disease that was once a death sentence. About 70% of the drugs in development are “first in class” medicines, meaning they use a completely new approach in fighting a disease.

BIO member companies are committed to developing wonderfully innovative new treatments and cures for a broad array of disease areas. They also go to great lengths to ensure that patients have access to their medicines, as necessary to meet their healthcare needs. Proposals that would block the desperately needed and imminent scientific advances promised by biotechnology should be strongly opposed.

Read Dr. Gottlieb’s entire piece here.