CBO: Senate Drug Price Cuts Would Curb Development of 10 Drugs Over 30 Years

July 15, 2022

Despite fears that drug pricing regulations would dampen innovation, an analysis by the US Congressional Budget Office found that the drug pricing proposal put forward by Senate Democrats would stifle development of 10 drugs in the next 30 years. This amounts to just shy of 1% of the estimated 1,300 approvals in that time period. The projected losses are much less than previous bills.

According to Zachary Brennan, “For House Speaker Nancy Pelosi’s drug price negotiation bill, known as HR 3 and which sought deeper pricing cuts, CBO predicted at the time that it would result in 59 fewer new drugs over three decades.”

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(Source: Endpoints News, July 11th, 2022)

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