01/20/2025

Medicare Drug Price Negotiations Need Something New: A Floor

Soon, the Centers for Medicare and Medicaid Services will begin the price negotiation process on a new set of 15 drugs. The new Trump administration should seize the opportunity to change the program to protect the most valuable drug innovation, while also cutting spending on low-value treatments.

Peer-reviewed evidence clearly shows that medical innovation suffers when innovators earn less. Paying less for drugs that matter most to patients will stifle innovation in valuable areas. Blunt reductions in the prices of all drugs, no matter their value, will deprive future generations of medical breakthroughs that are their due.

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