Democrats’ plan for drug pricing has small biotechs spooked
The goal of Rep. Nancy Pelosi’s drug pricing bill is to bring down the cost of medicines with five-figure price tags, sold by the likes of Johnson & Johnson and AbbVie. But tiny biotech firms, years away from selling a single product, are frightened it could have unintended consequences that derail their whole industry.
As STAT’s Nicholas Florko reports, the leaders of startup drug companies have largely been left out of Washington’s months-long debate over regulating drug prices, in which progressives have argued that major drug companies can make do with less revenue in exchange for greater access to key drugs.
Lost in that conversation, biotech CEOs say, is the possibility that restricting drug prices will have downstream effects that discourage investors from putting money into startups and thereby starve tiny companies chasing new treatments for debilitating diseases.
“It’s storm clouds on the horizon,” said Bassil Dahiyat, the CEO of Xencor.
Read more.
As STAT’s Nicholas Florko reports, the leaders of startup drug companies have largely been left out of Washington’s months-long debate over regulating drug prices, in which progressives have argued that major drug companies can make do with less revenue in exchange for greater access to key drugs.
Lost in that conversation, biotech CEOs say, is the possibility that restricting drug prices will have downstream effects that discourage investors from putting money into startups and thereby starve tiny companies chasing new treatments for debilitating diseases.
“It’s storm clouds on the horizon,” said Bassil Dahiyat, the CEO of Xencor.
Read more.
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