Pharmaceutical Industry: Reference Pricing for Drugs would Stifle Innovation | National Review

NRPLUS MEMBER ARTICLE

T
he pharmaceutical industry is on a bit of a hot streak. Last Monday, Pfizer announced promising results for its coronavirus vaccine. Later that day, Eli Lilly received emergency-use authorization from the FDA for its antibody treatment, which may prevent COVID-19 from growing serious in patients who contract the coronavirus and are not yet hospitalized. Not to be outdone, Moderna released similarly positive results for its vaccine candidate yesterday.

And yet, Republicans and Democrats alike are sitting on proposals that would make breakthroughs like these much rarer.

Specifically, they’re moving to peg domestic drug prices to the lower prices in other developed nations, …