What We Risk Losing in the Push for Cheaper Drugs
The article argues that the profit motive in the U.S. pharmaceutical industry drives innovation and the development of life-saving drugs, warning that price controls could undermine future medical advancements. It highlights the economic and societal value generated by American medical innovation, citing significant returns on research and development investments. The piece cautions that adopting drug pricing models from other nations through government compulsion may reduce incentives for future drug development.
- ▪Two-thirds of all new drugs are developed in the United States due to the profit motive driving innovation.
- ▪Economists estimate American medical innovation will deliver $167.5 trillion in societal value over 30 years, with a 27-to-1 return on R&D investment.
- ▪The U.S. leads in medical innovation, ranking first in science and technology, Nobel prizes per capita, and cutting-edge treatment availability.
- ▪Price controls based on foreign drug prices, such as those proposed in the Trump administration's executive order, risk reducing future drug development by undermining profitability.
- ▪Nations with socialized health care systems are described as stagnant in innovation compared to the relatively free-market U.S. system.
Opening excerpt (first ~120 words) tap to expand
Two-thirds of all new drugs are developed in the United States. Why? Because there’s money in it.As if that were a bad thing.Most people don’t expect GM or Ford to sell cars at a loss (unless they’re EVs). Or a roofer to put a new roof on their house for free. Or the fridge to be filled up with food — that just sort of appears.It’s understood that making money is what makes it possible for GM and Ford to make cars. And for homes to have roofs that don’t leak. To have good food to eat. The profit motive isn’t evil. It’s essential.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at The American Spectator | USA News and Politics.
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