Biopharmaceutical Innovation
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The world is entering a promising golden age of life sciences innovation, with potentially enormous benefits for human health, productivity, and sustainability. But that vision is at risk from a host of forces that seek to hamper the fundamental business models that have enabled such innovation. ITIF’s Center for Life Sciences Innovation exists to fight back against such forces, while documenting the importance of life science innovation and the private-sector led model complemented by government support that has been so successful elevate. We conduct research, generate policy proposals, and convene members of the analytical and policymaking communities with this mission firmly in focus.
Vice President, Global Innovation Policy, and Director, Center for Life Sciences Innovation
Information Technology and Innovation Foundation
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Featured
Evidence to Inform Biopharmaceutical Policy: A Call for Research on the Impact of Public Policies on Investment in Drug Development
The scope and magnitude of the trade-off between immediate savings from lower drug prices and future health benefits from clinical development remain poorly understood and quantified. To support rigorous evaluations and inform evidence-based policymaking, it is crucial to invest in this area through research grants and improved access to federal and private data.
Evidence-Based Biopharmaceutical Policymaking: Symposium Report
There is a need for more rigorous evidence and more recent, high-quality data to inform biopharmaceutical policymaking by shedding light on the relationship between pharmaceutical firms’ expectations of financial returns from new drugs and their ability to invest in further R&D to discover future generations of drugs.
How Skeptics Misconstrue the Link Between Drug Prices and Innovation
A recent article in the British Medical Journal contends “high drug prices” are neither necessary nor justified to sustain biopharmaceutical innovation. But it misrepresents and misinterprets the facts, highlighting how faulty the rationale is for drug price controls.
The Hidden Toll of Drug Price Controls: Fewer New Treatments and Higher Medical Costs for the World
When nations implement pharmaceutical price controls, they reduce pharmaceutical revenues, which then reduces investments in further R&D, limiting future generations’ access to new novel treatments needed to fight diseases such as cancer, Alzheimer’s, heart disease, and diabetes.
Testimony to the Senate Finance Committee on “Prescription Drug Price Inflation”
Expenditures for retail prescriptions have been roughly stable for the past two decades as a share of total U.S. health-care expenditures. Instead of applying broad price controls, policymakers should promote affordability and mitigate out-of-pocket costs for individuals.
More Publications and Events
May 7, 2025|Events
Making Medicines in America: How Congress Can Help America’s AI, Biopharma, and Manufacturing Industries Make It Happen
Join ITIF, Purdue University, and the National Institute for Pharmaceutical Technology and Education (NIPTE) for a summit on Capitol Hill where top leaders in AI, pharmaceutical manufacturing, and public policy will discuss what must be done.
April 21, 2025|Blogs
America Funds Cures—The World Must Share the Burden
The United States shoulders the cost of global drug innovation—unless wealthy nations pay their fair share, future cures will stall.
March 24, 2025|Blogs
Broadening Genetic Representation in Biomedical Research Data
To stay ahead in biopharma and ensure new therapies work for everyone, the U.S. must fix the diversity gap in biomedical research.
March 17, 2025|Reports & Briefings
The Value of Follow-On Biopharma Innovation for Health Outcomes and Economic Growth
Follow-on biopharmaceutical innovations deliver substantial health and economic benefits by improving the safety and efficacy of existing therapies, addressing unmet patient needs, expanding therapeutic applications, and enhancing adherence. Supportive policies are essential to sustain progress and ensure broad access to these medical advances.
March 10, 2025|News Clips
Trade Groups Urge the Administration to Maintain Basic Research Funding
Sandra Barbosu joined The Federal Drive with Tom Temin morning radio show to discuss the role of federal funding to medical research and innovation.
March 3, 2025|Events
Tech Policy 202: Spring 2025 Educational Seminar Series for Congressional and Federal Staff
ITIF’s spring seminar course explores core emerging technologies and issues that are reshaping our world and, in the process, creating public policy challenges and opportunities. The course is open to congressional and federal staff only.
February 27, 2025|Testimonies & Filings
Comments to CMS on the List of Drugs for Price Setting Starting in 2027
Recent policies permitting CMS price setting are hamstringing the U.S. biopharmaceutical industry, as they reduce incentives for pharmaceutical companies to invest in future drug R&D to create life-improving and life-saving medicines.
February 25, 2025|Knowledge Base Articles
To Do: Pass the EPIC Act for Small-Molecule Drugs
Congress should pass the Ensuring Pathways to Innovative Cures (EPIC) Act to give small-molecule drugs the same 13-year market time before price setting as biologics.
February 25, 2025|Reports & Briefings
The Inflation Reduction Act Is Negotiating the United States Out of Drug Innovation
The Inflation Reduction Act (IRA) undermines innovation in small-molecule drugs by subjecting them to price controls after 9 years, whereas large-molecule drugs (biologics) are allowed 13 years of market pricing. Congress should pass the bipartisan EPIC Act to remedy this issue.
February 21, 2025|Blogs
Fact of the Week: Europe Trails the United States by Over 26 Percent in Share of Global Biopharma R&D
European firms are now responsible for just 29 percent of global biopharma research and development; U.S. firms lead at 55 percent.
