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Testimony to the Senate Finance Committee on “Prescription Drug Price Inflation”

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.

Innovation is essential to promoting human health, agricultural productivity, and ecological sustainability. ITIF’s Center for Life Sciences Innovation conducts research supporting advances in human biotechnology; pharmaceuticals; and health care policy outside the realm of IT.

June 24, 2022

Postmortem on a Pyrrhic Victory for IP Foes at the WTO

The WTO’s approval of a TRIPS waiver for IP related to COVID-19 vaccines is essentially a shotgun blast completely missing the broadside of a barn.

June 17, 2022

No, America’s Drug Prices Aren’t Climbing Radically Out of Control

The United States uniquely leads the world in innovating new drugs and getting them to patients first while sustaining a globally competitive industry and over time making drugs affordable by incentivizing competition and creating generic pathways.

April 27, 2022

Innovation and IP’s Role in Combatting the Covid-19 Pandemic

ITIF and the Center for Strategic and International Studies hosted two expert panels exploring how innovation and IP have proved to be instrumental in overcoming the COVID pandemic.

March 29, 2022

How Using March-in Rights Would Threaten America’s Research Universities

ITIF hosted a panel discussion with leading experts on innovation policy, technology transfer, and business, who spoke to the practical implications of exercising federal “march-in” rights and why it would be a grave and ill-timed mistake for the U.S. health, competitiveness, and research landscape.

March 15, 2022

‘March-In’ Advocates Continue the Assault on Life-Sciences Innovation System

America’s world-leading life-sciences innovation system is a product of myriad policies, but one that is all too often overlooked is the Bayh-Dole Act, which gives IP rights to universities that produce innovation with federally funded R&D.

February 21, 2022

Op-Art: Drug Price Controls vs. the NIH “Cancer Moonshot” Initiative

President Biden recently announced the administration is reigniting its “Cancer Moonshot” initiative, but its drug-pricing agenda presents a problem.

January 24, 2022

Fact of the Week: A 1% Increase in Local Biomedical Research Publications Reduces a Community’s Related Mortality by 0.35%

By utilizing new data on medical research output and administrative death records, a recent study from the National Bureau of Economic Research (NBER) produces estimates on the causal link between biomedical research and health outcomes.

November 22, 2021

Going, Going, Gone? To Stay Competitive in Biopharmaceuticals, America Must Learn From Its Semiconductor Mistakes

America has lost 70 percent of its semiconductor manufacturing capacity over the last three decades. That serves as a harsh lesson for policymakers: Failing to maintain a supportive policy environment could set up other high-tech industries to falter, too.

November 22, 2021

Drug Price Controls Are Bad Policy. Congress Should Instead Double Down on Innovation to Boost Productivity in Biopharma R&D

Capitol Hill is awash in proposals to stem allegedly out-of-control drug prices, but in their zealousness to rein in drug prices, policymakers risk imperiling drug innovation to the detriment of patients and the economy. The better way to produce more medical cures at lower cost over the long haul will be to double down on innovation, not deter it.

November 15, 2021

Podcast: R&D Costs, Rx Prices, and the Formula for Success in Life Sciences Innovation, With Stephen Ezell

The United States is the leader in life sciences innovation, but that has not always been the case. As global competition intensifies, it needs to continue spurring investment in R&D to stay on top. Rob and Jackie sat down with Stephen Ezell, vice president of global innovation policy at ITIF, to discuss the history of U.S. life sciences innovation and break down R&D costs versus the market prices of innovative biopharmaceuticals.

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