In early December, the Biden administration touched on the prospect of implementing march-in rights on taxpayer-funded drugs and other related inventions, in an attempt to stabilize drug prices. This move was received with skepticism by Wayne Winegarden from the Pacific Research Institute, who argued that this approach to managing drug costs could potentially undermine the benefits of government-funded research. The implications of this could extend beyond patients to the broader economy as well.
According to the administration’s proposal, consideration of drug price accessibility should be a key factor in determining whether a medication is readily available to the public. However, Winegarden’s analysis suggests that the potential negative consequences – particularly the nullification of the advantages of funded research – make the policy a risky one.
The full piece by Wayne Winegarden, presented in detail, assesses the implications of such a policy, highlights potential pitfalls and provides an economic forecast. Winegarden’s expert analysis can be read on Law360.