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We are entering the most exciting time of biomedical innovation and advancement in American history. Our growing understanding of human genetics and the promise of personalized medicine will advance the race to cure cancer and treat or prevent Alzheimer’s disease. However, this progress will be erased if Congress passes government drug price controls, which will end the promise of innovation and prevent patients from seeing the benefits of the next generation of cures.
Americans enjoy unprecedented access to new, novel treatments. Of the 460 new medicines approved globally since 2012, 85% are available to Americans compared to just 59% in U.K. and 44% in Canada. Of the 123 new life-saving cancer drugs, 93% are available in the U.S. compared to just 69% in the U.K. and 59% in Canada. It’s baked in that, in order for government price controls to work, these countries must deny and ration care to their citizens.
Our system thrives on access and innovation. Government bureaucrats don’t get to decide whether we have access to medicine. The market provides solutions, and Americans freely utilize them.
Of course, no system is perfect. Our health system needs real reforms, not feel-good gestures that create more long-term problems,