Politics, Policy & Law
Investors, biopharma companies sound alarms on drug pricing legislation
As Democrats in the U.S. House and Senate race to finalize a spending bill, investors are combining forces with drug developers and some patient advocates in a battle to block or blunt attempts to include drug pricing provisions they contend would hobble the U.S. biopharma industry.
Many of the most prominent VCs in the biomedical ecosystem signed onto a letter released Wednesday warning that price control policies that are being considered on Capitol Hill “would defund R&D, like flipping off a light switch.” Investors who manage over $183 billion of life science focused capital signed on, according to the letter.
The voices of investors are critical to supporting arguments from drug developers that the Congressional Budget Office and members of Congress have overlooked the effects of drug price controls on the ability of biotech companies to attract investment.
Pharma companies have launched their own war against drug price controls.