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Why should government price controls on drugs be avoided?

The competitive market and pricing we have in the U.S. drive rapid innovation and help fund research into future breakthroughs. In working to contain health costs, policymakers should explore solutions such as disease management programs that use prescription drugs to improve care and reduce overall costs. Government price controls should be avoided: experience in Europe and Japan show they reduce incentives for investment in research and development and restrict patient access - some patients have been denied crucial treatments for years while governments decide on prices. If price controls were in place in the U.S. between 1952 and 2001, economists estimate that between 330 and 365 new medicines would not exist today.

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Important: This content reflects information from various individuals and organizations and may offer alternative or opposing points of view. It should not be used for medical advice, diagnosis or treatment. As always, you should consult with your healthcare provider about your specific health needs.