As the debate over drug pricing intensifies, some proposals—like the Most Favored Nation model—may sound appealing in theory, but they carry serious unintended consequences.
In my latest op-ed in STAT, I explain why linking U.S. drug prices to those in other countries threatens to undermine innovation, limit patient access to cutting-edge medicines and weaken our global leadership in the life sciences.
Forget Foreign Price Controls: There’s a better solution to lowering drug prices
By: Steve Ubl
President Trump is right that Americans often pay too much for prescription drugs, and that foreign countries aren’t pulling their weight. The status quo isn’t merely unfair – it’s unsustainable.
But to fix the problem – without deterring the massive research investments that spur economic growth, job creation and health gains – policymakers will need to address the true drivers of high prices here at home, while simultaneously pressing our allies to contribute more abroad.
Read the full article.
Stephen J. Ubl
Stephen J. Ubl is president and chief executive officer of the Pharmaceutical Research and Manufacturers of America (PhRMA), which represents America’s leading biopharmaceutical research companies. The U.S. biopharmaceutical sector directly employs more than 800,000 Americans and invests more than $100 billion in research and development annually – more than any other industry in America.
Ubl leads PhRMA’s work preserving and strengthening a health care and economic environment that encourages medical innovation, new drug discovery and access to life-saving medicines. Ubl is recognized around the world as a leading health care advocate and policy expert who collaborates successfully with diverse stakeholder groups – including patient and physician groups, regulators, public and private payers, and global trade organizations – to help ensure timely patient access to innovative treatments and cures. The New York Times writes, “If anyone can find areas of agreement with the critics, or at least work productively with them, it may be Mr. Ubl. He is more conversant with the intricacies of health policy, and more adept at the politics."
Previously, Ubl served as president and CEO of medical technology association AdvaMed, where he helped facilitate landmark reforms related to the U.S. Food and Drug Administration product review process and Medicare’s coverage and reimbursement of medical technologies. He led the industry’s defense of breakthrough R&D, successfully delaying an innovation-stifling device tax, and, in 2013, was recognized by a leading industry publication as one of 10 people to have a lasting impact on the medical technology industry.
Ubl has worked extensively with patient advocacy organizations in health policy, including longstanding service on the board of the National Health Council, a leading umbrella organization for voluntary health care organizations and has been personally involved with JDRF (formerly known as the Juvenile Diabetes Research Foundation).
He is routinely recognized as one of Washington’s most effective advocates. Ubl has been recognized on Business Insider’s “DC Healthcare Power Players” and Modern Healthcare’s “100 Most Influential People in Healthcare.” He is identified as a top health influencer by Medical Marketing & Media and PR Week magazines.
https://www.linkedin.com/in/steveubl/
President and Chief Executive Officer