With the rallying cry of corporate greed, each year of the Biden-Harris administration has brought successive government interventions in the health care system — broadly directed at the life sciences industry including large companies employing thousands of Americans, entrepreneurs and the many creative, scrappy small businesses driving revolutionary innovation. Through one-size-fits-all administrative actions and partisan legislation, the Biden-Harris administration has both stifled innovation and made it harder for new drugs to reach patients.
The Biden-Harris administration’s push of the 2022 Inflation Reduction Act brought about an approach that many economists thought had died, while others warned was rising anew: centralized price regulation. Administrative pricing and inflation rebates for pharmaceutical product manufacturers resurrected a dangerous centralized “command and control” economic model.
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With the rallying cry of corporate greed, each year of the Biden-Harris administration has brought successive government interventions in the health care system — broadly directed at the life sciences industry including large companies employing thousands of Americans, entrepreneurs and the many creative, scrappy small businesses driving revolutionary innovation. Through one-size-fits-all administrative actions and partisan legislation, the Biden-Harris administration has both stifled innovation and made it harder for new drugs to reach patients.
The Biden-Harris administration’s push of the 2022 Inflation Reduction Act brought about an approach that many economists thought had died, while others warned was rising anew: centralized price regulation. Administrative pricing and inflation rebates for pharmaceutical product manufacturers resurrected a dangerous centralized “command and control” economic model.
Read the rest…
