“At the same time that more than 90 Massachusetts life sciences companies are leading the way in developing new tests, therapies, and vaccines for COVID-19, the Governor is reheating an old proposal to impose price controls on prescription drugs. This policy is unnecessary and sends the wrong message to biotech companies here hoping to successfully bring new drugs to market. Massachusetts state government already has numerous ways to reduce prescription drug spending, especially through the new authority granted just last year by the Legislature allowing MassHealth to directly negotiate with drug manufacturers for additional discounts and rebates. It also ignores the realities that prescription drug spending is trending down year over year in Massachusetts and nationally after accounting for discounts and rebates. MassBio urges the House and Senate to again reject this measure and instead seek out public policies that will encourage further innovation from our world-leading life sciences cluster while also ensuring patients have access to breakthrough therapies.”
– Bob Coughlin, President & CEO, MassBio