The bill fails to recognize three critical realities: 1) that drug prices are, in fact, not a significant driver of raging inflation; 2) that there exist better mechanisms to reform Medicare Part D drug pricing practices; 3) that mandated government price controls do inflict serious harm on nations’ life-sciences innovation systems.

Senate Reconciliation Legislation Fails to Reconcile the Interests of Biomedical Innovation and Drug Price Affordability

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.

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

China is at the global forefront of the electric vehicle (EV) and EV battery industries. Its firms produce nearly two-thirds of the world’s EVs and more than three-quarters of EV batteries. They also have produced notable innovations in EV products, processes, and customer experiences.

How Innovative Is China in the Electric Vehicle and Battery Industries?

Tune in for an expert panel discussion examining where Japan faltered in this sector, what it must do to restore its life-sciences innovation leadership and competitiveness, why that would be in the best interests of both Japan and the United States—and what America must do to avoid following in Japan’s footsteps.

Lessons From the Rise and Fall of Japan’s Life-Sciences Innovation Ecosystem

Continued leadership in high-performance computing (HPC) as it enters the exascale era remains a key pillar of U.S. industrial competitiveness, economic power, and national security readiness. Policymakers need to sustain investments in HPC applications, infrastructure, and skills to keep America at the leading edge.

A New Frontier: Sustaining U.S. High-Performance Computing Leadership in an Exascale Era

Rob and Jackie sat down with Joe Allen, who served as a professional staffer on the U.S. Senate Judiciary Committee to former Senator Birch Bayh, to discuss the importance of the Bayh-Dole Act and the future of life sciences innovation.

Podcast: Life Sciences Innovation Through the Bayh-Dole Act, With Joe Allen

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.

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

Economic, trade, innovation, and global value chain (GVC) linkages between the United States and Taiwan are vitally important to both nations’ advanced technology industries and broader economies. Policymakers should work to deepen them.

The Evolution of Taiwan’s Trade Linkages With the U.S. and Global Economies

When factoring in the high value of positive externalities created by new drugs, consumer prices become a small price to pay for the wealth of private and public benefits that biopharmaceutical innovations create.

Fact of the Week: Biopharma Innovations Shrank the Population Unable to Work or Go to School by 4.5 Percent Over 15 Years

The European Commission has set out to ensure digital markets are “fair and contestable.” But in a paradigm shift for antitrust enforcement, its proposal would impose special regulations on a narrowly defined set of “gatekeepers.” Contrary to its intent, this will deter innovation—and hold back small and medium-sized firms—to the detriment of the economy.

The Digital Markets Act: European Precautionary Antitrust

Proponents of capping drug prices often dismiss concerns about the impact on pharmaceutical R&D by pointing to the fact that drug prices are much lower internationally than in the United States. But this reasoning fails to consider that price restrictions in other countries have made pharmaceutical companies disproportionately reliant on revenue from the United States.

Fact of the Week: A 40 Percent Reduction in US Drug Prices Would Lead to as Much as 60 Percent Fewer Novel Compounds Reaching Clinical Testing

Mobile broadband offers a vast array of opportunities to improve quality of life for individuals and society.

Opportunities and Innovations in the Mobile Broadband Economy

Expanding the 25-year-old trade agreement that eliminates tariffs on ICT goods would spur broad-based growth for countries that sign on, because lowering prices increases ICT adoption, which spurs productivity and innovation throughout the economy.

How an Information Technology Agreement 3.0 Would Bolster Global Economic Growth and Opportunity

Children play a crucial role in driving adoption of immersive technologies—and parents, corporations, and regulators all have roles to play in balancing privacy and safety concerns to ensure they can enjoy safe, engaging, and innovative experiences.

User Safety in AR/VR: Protecting Kids

Completing a second expansion of the Information Technology Agreement (an “ITA-3”) could bring more than 400 unique ICT products under the ITA’s tariff-eliminating framework, which would add more than $750 billion to the global economy over 10 years.

Fact of the Week: The Price of Drugs Has Increased 40 Percent Less Than the Average US Product

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Senate Reconciliation Legislation Fails to Reconcile the Interests of Biomedical Innovation and Drug Price Affordability

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

How Innovative Is China in the Electric Vehicle and Battery Industries?