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Hello John,

‌

Imagine a world where cures for cancer, Alzheimer’s, or rare genetic disorders
never come to light — not because the science isn’t there, but because the
incentive to pursue it has been stripped away.

‌

This scenario is becoming a reality under Medicare’s price negotiation
provisions enacted as part of Joe Biden’s misnamed Inflation Reduction Act.

‌

Let me break down how this hurts health care innovation and how we can get
things back on track.

‌

A chilling effect on innovation: Developing a new drug takes an average of 10
years and $2.3 billion, according to a 2024 Deloitte study.

‌

And only 12% of drugs in clinical trials ever gain approval, meaning revenue
from successful drugs funds not only their own creation but also offsets losses
from failed ones. If companies lose the ability to price established drugs
appropriately, they lose the resources to reinvest in R&D.

‌

The impact is already visible:

* Bristol Myers Squibb has stopped research on promising cancer treatments.
* Eli Lilly is scaling back blood cancer drug development.
* Alnylam halted work on a rare eye disorder drug.
Major players like AstraZeneca are reconsidering their pipelines, and biotech
bankruptcies are rising.These setbacks aren’t hypothetical — they are happening
now, and patients will bear the cost.
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‌

Fewer treatments, less progress: The IRA cuts into the funding needed for
risky yet groundbreaking drug development. It also reduces incentives to find
new uses for existing drugs.

‌

For example, rituximab (Rituxan) was initially approved for non-Hodgkin’s
lymphoma but later approved for a rare blood vessel disorder after further
research. Under the IRA, pursuing such additional uses is penalized, meaning
fewer breakthrough treatments will emerge.

‌

The human cost: Experts estimate the IRA could lead to 135 fewer lifesaving
drugs by 2039, prolonging patient suffering and missing opportunities to
improve lives. Economist Tom Phillipson estimates that this lack of innovation
could result in$18 trillion in health losses over the next 15 years. Are the
savings worth sacrificing breakthrough cures for ALS, cancer, or Parkinson’s?
For many, the answer is clear: no.

‌

The risk to future innovations: Proponents of the IRA claim it will save
Medicare billions, but history shows that price controls stifle innovation. In
the European Union, where such controls are common, patients have less access
to new drugs.

‌

Since 2012, 93% of new cancer treatments are available in the U.S., compared
to just:

* 71% in Germany
* 64% in France
* 59% in Canada
By reducing incentives for developing new drugs, the IRA risks creating
similar delays and access issues in the U.S., threatening the country’s
leadership in global health care innovation.

‌

What you can do

‌

We’re at a critical point: Supporting innovation means protecting policies
that allow pharmaceutical companies to recover costs and reinvest in lifesaving
research.
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‌

Congress must reverse the IRA’s harmful provisions before they jeopardize
future medical breakthroughs. You can help make this change.

‌

Sign our petition today
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to oppose Medicare’s price controls and support the right to research and
innovate. Your voice sends a clear message: Policies that harm patients and
stifle discoveries must end.


Sign the petition now
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Speaking up can help ensure a future where new cures are the norm. Millions of
lives depend on it.

‌

Best,

-Dean

‌

Dean Clancy

Senior Health Policy Fellow

Americans for Prosperity






Thank you for your continued support. Together, we’re ensuring every American
has access to the health care solutions they need. Stay tuned for updates on
how we’re making impact-driven changes possible.






Americans for Prosperity

4201 Wilson Blvd, Suite 1000

Arlington, VA 22203



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