Statement by MassBio President & CEO Robert K. Coughlin on Most Favored Nation Drug Pricing Rule

Nov 23, 2020

“In his final weeks in office, President Trump is punishing the biopharma industry and patients across the U.S. by impulsively filing half-baked, legally questionable, and extremely harmful drug pricing regulations that seek to lower costs in Medicare, but in reality will limit patient access to breakthrough therapies and distract the incoming Administration from critical public health priorities. Not only have Trump’s economic advisors stated that foreign price controls such as his Most Favored Nation policy in Medicare will result in as many as 100 fewer medicines developed over the next decade, this policy is also being forced through via an Interim Final Rule during a time when America’s biopharmaceutical industry is leading the fight against the COVID-19 pandemic and overcoming all odds to develop and manufacture a successful vaccine in record speed. We’ve all experienced the unbelievable role biopharma innovation plays in both public health and the economy and I urge Republicans and Democrats to stand together and reject these price controls that will hamper the industry’s ability to continue investing in life-savings therapies for future generations.”

– Robert K. Coughlin, President & CEO, MassBio

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