Massachusetts is the life sciences capital of the world. Employment in the biopharma industry hit more than 60,000 last year, and more than 179,000 jobs are supported by the industry here in the Commonwealth. It’s a badge of honor that public officials wear when they visit other states and talk about what Massachusetts has to offer. While the climate of innovation furthered by the biopharma industry is praised, there is legislation in the works that could stifle the very companies growing these jobs and creating life-saving therapies.
Price controls for prescription drugs are the latest solution being offered in response to a few individuals who do not uphold the same values as an industry that we know is focused foremost on health and well-being.
The price control bill under consideration would put unique limits on the ability of these innovative companies to sell their products. This could have a chilling effect on one of the biggest drivers of our economy. As noted in the April 7 Business article “Fight over drug bill looms,’’ there should be another way to tackle this problem.
Rapid innovations in science and technology promise profound advances in medicine. More government intervention would result in fewer new treatments for patients and less access to existing ones. It would also divert additional funding from research and medical innovation by forcing companies to clear more regulatory hurdles.
We should be making it easier, not harder, for these companies to bring new medicines to patients.
Sarah E. Kennedy
Director of
government affairs
Cambridge Chamber
of Commerce
Cambridge