Drug Price Controls

The Issue

The rising cost of pharmaceuticals has raised concern about the ability of Massachusetts residents to pay for crucial medicines. As a result, some are advocating for various forms of government price controls.

Our Position

We also are concerned about the price of drugs, but the introduction of artificial prices threatens investment in the development of new and improved medicines. We support industry-driven programs to help make pharmaceuticals more affordable to low-income state residents.

While drug prices have long been a controversial topic, often overlooked in the discussion is the fact that new innovative pharmaceuticals are a health care bargain. Barely ten percent of all health care costs are expended on pharmaceuticals, a fraction of what is spent on hospitals, doctors and administration. Yet, increasingly pharmaceuticals are allowing people to return to work or to leave hospitals and nursing homes and are generally restoring quality of life.

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About MassBio

MassBio is a not-for-profit organization committed to advancing the development of critical new science, technology and medicines that benefit people worldwide.

Founded in 1985, MassBio represents over 600 biotechnology companies, academic institutions, research hospitals, and service organizations involved in life sciences and health care, and works to advance policy and promote education, while providing member programs and events, industry information, and services.

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