Plenary Session: Drug Price Controls—What Are the Unintended Consequences to Innovation?

Moderator

Gregory Daniel, MPH, RPh, PhD, Eli Lilly and Company, Washington, DC, United States

Speakers

Virginia Lee Acha, BA, MPhil, DPhil, Merck, London, United Kingdom; Graham Cookson, MSc, PhD, Office of Health Economics, London, United Kingdom; Sean D Sullivan, PhD, University of Washington, Seattle, WA, United States; Darius Lakdawalla, PhD, University of Southern California, Los Angeles, CA, United States

One of the most debated topics in pharmaceutical policy is the rationale behind and the effects of government-mandated price limits for prescription drugs. The goal is to make drugs more affordable and equitable, but do these price controls have unintended consequences for innovators and pharmacy providers? In the US, the Inflation Reduction Act of 2022 (IRA) and the evolution of state-level Prescription Drug Affordability Boards keep this issue prevalent. This plenary will explore the impact of price limits on innovation and market availability through real examples. It will also examine their financial and operational effects on pharmacy providers, as well as opportunities for health economists and health outcomes researchers to collaborate across stakeholder groups in support of evidence-based policy. 

Code

014b

Topic

Economic Evaluation, Health Policy & Regulatory