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White House claims Speaker Nancy Pelosi’s drug pricing bill would result in 100 fewer drugs over decade
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| Contributor | RP |
| Last Edited | RP Dec 03, 2019 04:03pm |
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| Category | Report |
| Author | Berkeley Lovelace Jr. |
| News Date | Tuesday, December 3, 2019 09:35:00 PM UTC0:0 |
| Description | The White House, citing an analysis from the Council of Economic Advisers, an agency within the executive office, also said Pelosi’s bill would lead to worse health outcomes and cost the U.S. economy $1 trillion per year over that time period.
The report from the administration, which has some health policy analysts scratching their heads, suggests far greater consequences than other estimates for both the drug industry and American consumers if the bill is enacted.
In October, the Congressional Budget Office, an independent agency that reviews congressional spending, estimated Pelosi’s bill would produce $345 billion in savings if enacted. It also said the bill would lead to a reduction of eight to 15 new drugs entering the U.S. market. That’s because pharmaceutical companies would make less revenue under the rules, resulting in them cutting R&D spending for new drugs, the CBO said. |
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