Washington, D.C. – The following statement is in response to the announcement naming the first 10 drugs to be subject to federal government price controls. It should be attributed to Joel White, President of the Council for Affordable Health Coverage:
“Today’s announcement is a hollow victory lap. Three things are true: one, no one’s costs will go down now or for years because of this announcement. Second, the announcement reduces incentives in the market to invest in life-saving treatments and cures for cancer patients and those with rare diseases. Third, this program will make drug shortages worse. Our healthcare future will be more bleak and costly as a result.
It is time for the Biden Administration to take meaningful action, instead of trying to score political points.”