Instead, the Biden administration has resorted to coercive price controls for medicines, thus jeopardizing future medical discoveries and putting Americans’ health care on a rationing trajectory. Hurts Patients, Innovation, and Jobs: Recent forecasts reveal the potential harm of these price controls on American patients and workers:1Over 130 potential therapies might not be developed in the next decade. Fact: Government Price Controls Lead to Rationing and Delayed TreatmentsSoon, Americans will experience what other countries with government price controls experience—rationed medicines and delayed treatments. Price controls are dampening investments elsewhere, especially in Germany, France, and Italy. Several companies have even halted developing groundbreaking gene therapies for rare diseases.5Bottom Line: Government price controls hurt, not help, access to vital medicines, and price controls are both legally suspect and counterproductive.

Source: Wall Street Journal August 29, 2023 12:17 UTC