Jan Western’s opinion piece, “Federal price caps on drugs could have major consequences on research” misinforms readers about the drug price provisions in the Inflation Reduction Act. As a patient, I want to set the record straight.
Yes, patients like me and those who live with hemophilia need innovative medicine. But what use is there in developing groundbreaking new drugs if we can’t afford them?
The drug price provisions in the Inflation Reduction Act aren’t a political “sound bite” — they are historic legislation that allow for the innovation we need at prices we can afford. According to the Congressional Budget Office, the reforms would decrease the number of new drugs over the next 30 years by only 15 out of 1,300 expected new drugs — that’s less than 2%.
After years of managing my fibromyalgia and neuropathic pain with expensive medication, I am so grateful the new law will limit annual price increases on drugs and stop price gouging by drug corporations.
Sen. Mike Lee’s defense of the monopoly drug pricing system is a true disservice to his constituents, who need relief from high drug prices. Patients fought hard for the reforms in the Inflation Reduction Act — and we won’t let Big Pharma and its allies’ fearmongering scare us.