The following is an excerpt from an article originally published in The Boston Globe on August 15, 2024:
None of the 10 drugs affected so far are made by companies based in Massachusetts, although several of the drugmakers have sizable operations in the state. The head of the trade group for the state’s robust life sciences industry on Thursday criticized the Biden administration’s initiative, warning it could dampen drug development research that has thrived here.
“The prices released today are the result of a flawed law that disincentivizes the development of new cures, therapies, and vaccines,” said Kendalle Burlin O’Connell, chief executive of the Massachusetts Biotechnology Council. “MassBio remains concerned about the law and is committed to working with policy makers to develop alternative solutions that encourage patient access to innovative new therapies.”