opinion
Why new drug policy might hamper future innovation
Ted W. Love, chair of BIO's board of directors, leads a company called Global Blood Therapeutics that produces a once-a-day tablet for sickle cell disease. He opines for STAT that the current policy shifts are too harsh on the drug industry — and had they been in play previously, his breakthrough sickle cell treatment would have never seen the light of day.
For example, the FTC is cracking down on large acquisitions, particularly in the biopharma sector. Had Global Blood Therapeutics not been acquired by Pfizer, the sickle cell therapy might not have been accessible to patients in lower-income countries.
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legislation
Congress divided on approach to drug shortages
The ongoing drug shortages have split Congress: GOP lawmakers have a very different proposed approach than their Democratic counterparts. Draft legislation from Republicans includes language that would make it easier for generic drugmakers to raise their prices to avoid offering steep discounts to hospitals. Republicans are also proposing that drugs prone to shortages be exempt from a Medicaid inflation rebate.
One Democratic congressman described some of these GOP proposals as "handouts" to drug companies, and says they wouldn't help allay shortages. Democrats also think the legislation around shortages should be folded into a larger pandemic preparedness bill that will likely pass — but Republicans want to keep things separate.
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