The United States is the global leader in biomedical innovation, discovering more new cures than the rest of the world combined. We have brilliant scientists, world-class research institutions, and dedicated investors. But what sets us apart is a commitment to free-market policies that reward innovation and recognize the inherent costs and risks of discovering new treatments.
As BIO President and CEO Jim Greenwood says, “The only thing that can stop the next wave of new cures is bad policy.” That’s why BIO created a video to “follow the pill” and launched DrugCostFacts.org to explain how drug prices are set, who determines what patients pay out of pocket for prescription drugs, and what are the real drivers behind health care spending. Our goal is to ensure the right policies are in place to protect patients and the future of biomedical innovation.
That effort continues with the release of a new infographic. Recently, Democratic leaders released an economic agenda called “A Better Deal.” This agenda includes numerous claims on prescription drug costs and outlines policy proposals that would harm biomedical innovation and patients. It’s important for policymakers and the public to have all the facts, and that is precisely what this new infographic is intended to do.