Costello: Are there any disadvantages to reducing drug costs?

Costello: Are there any disadvantages to reducing drug costs?

Allen Costello |

I saw that the Biden administration has brought 10 drugs to market for which it “negotiated” a new lower price. It’s commendable that the administration is looking for ways to reduce drug costs, but one has to ask: Would these 10 drugs, which treat everything from high blood pressure to diabetes, have even made it to market if this new “drug negotiation” rule had been in place a decade ago?

I understand that prices for these particular drugs are now lower, but aren’t patients worse off in the long run if there is a lack of new drugs and treatment options? Won’t investment simply dry up if biotech companies are not at least promised the possibility of recouping their investment?

There are always two sides to the coin. I hope our congressional delegation, led by Senator Mark Kelly and Kyrsten Sinema, will take a closer look at what could happen if this policy continues.

Reader reactions, for or against, are welcome at [email protected].

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