Are Price Controls Secretly Costing Your Health Innovation?
The Impact on Pharmaceutical Innovation
Pharmaceutical companies are at the forefront of health innovation, investing billions of dollars into developing new drugs and therapies. According to a study by the Tufts Center for the Study of Drug Development, the average cost to bring a new drug to market is approximately $2.6 billion1. Price controls can deter these investments, as companies may not see a viable return on their investment. This can lead to fewer new drugs being developed, potentially impacting the availability of cutting-edge treatments.