Fortune: Making Cancer Treatments Affordable Today Won’t Hurt Tomorrow’s Innovation

Fortune recently published an opinion piece co-authored by Rena Conti, Associate Professor in the Department of Markets, Public Policy and Law. Rena tackled the topic of the high costs of cancer-treating drugs as well as legislation scheduled to be debated in Congress soon – the Lower Drug Costs Now Act, which would give Medicare the power to negotiate for lower drug prices.

This legislation does not aim to undermine the ability of pharmaceutical companies to invest in innovation.

Rather, we expect these negotiations, if allowed to work over time, will create a virtuous circle and increase the availability of new drugs that offer significant health benefits to current and future patients.

The article covers the drug industry’s differing views on the Lower Drug Costs Now Act and breaks down the counterarguments that claim the passage of this bill will in fact increase the availability of innovative drugs that offer significant health benefits.