Why Prescription Drugs Cost So Much | The Washington Post | 04/12/2024

By Tomas J. Philipson

April 12, 2024

In their April 9 op-ed, “Big Pharma’s high prices don’t drive innovation,” Avik Roy and Gregg Girvan argued that Medicare’s new authority to demand lower prices from drug manufacturers will not result in the development and approval of fewer new drugs. Because most biotech innovation comes from smaller firms, they wrote, reducing revenue to Big Pharma will have minimal impact on drug creation.

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April 12, 2024

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