While many Americans desire a one-time cure-all for high prescription drug prices, that likely won’t be the solution, Austin Frakt writes in a recent article published on the New York Times.
Low-priced drugs, Frakt writes, see their prices drop based off competition, but expensive drugs exist in a highly-variable environment, one in which competition can be thwarted.
Humira, for example, has been free of direct competitors since its approval in 2002.
“One-size-fits-all incentives like patents and exclusivity periods may not provide the right incentive for Humira or any other drug,” Washington University’s Rachel Sachs said. “We probably are under-rewarding drug innovation for some types of diseases, such as early-stage cancers requiring long clinical trials, and over-rewarding it for others.”
To read the full article on the New York Times, click here.