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No one in a nation as great as ours should struggle to afford the medicine they need. As we work to lower drug costs, we must also invest in innovation that produces life-changing treatments that create competition and ultimately reduce costs for everyone.https://scottpeters.house.gov/media-center/press-releases/rep-peters-helps-advance-bill-to-lower-prescription-drug-prices …
San Diego's world-class health care sector is developing life-changing therapies poised to help millions. Yesterday in @EnergyCommerce, I advocated for a system that does not stifle this research now or in the future.pic.twitter.com/ABnZRFDXuW
Diagnostics for rare diseases can take years of expensive testing and too much guess work. Our bill, the Ending the Diagnostic Odyssey Act, would expand access to whole genome sequencing —which is already being deployed in San Diego— and reduce costs for families in the long run.
Low-income patients face unique health & socioeconomic challenges. We must ensure patients already disadvantaged by limited treatment options can continue to access specialized drugs for substance abuse & mental health disorders under Medicare Part D.
:https://bit.ly/2Jiw7IX
Markets with competition work to drive down costs. If the government interferes with pricing before the market has had the chance to work, it could prevent the next breakthrough from coming to market at all.
:https://bit.ly/2BrnzuE
We want and need a market that continues to produce new drugs and therapies that can cure deadly and chronic disease. I made clear my concerns with parts of this bill and look forward to working with my colleagues to further improve it.
Yes, indeed. Thanks, @RepScottPeters. This is what economists call a positive externality. Given low appropriability in the market, the government can step in to encourage more innovation and investment.
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