Nothing ventured, nothing gained

Enactment of the Inflation Reduction Act’s price-setting provisions should be a wake-up call: it is past time for life sciences leaders to hit the reset button in Washington.

A sustained, multifaceted influence campaign funded by Arnold Ventures helped push the Medicare drug price negotiation program over the finish line, but if they are looking for villains, biopharma leaders should look in the mirror. They created conditions that made something like the IRA’s drug pricing provisions inevitable. ...