Democratic presidential candidate Hillary Clinton’s drug pricing proposals would “turn back the clock on medical innovation and halt progress against the diseases that patients fear most,” CEO of Pharmaceuticals Research and Manufacturers of America John J. Castellani says.
- Clinton’s proposals would “result in fewer new treatments for patients,” cost jobs and erode U.S.’s standing as “world leader in biomedical innovation,” statement says
- Proposals “driven by false notion that spending on medicines is fueling overall health care cost growth”
- NOTE: PhRMA is association representing drug companies
- NOTE: Clinton sent pharmaceutical and biotechnology stocks plummeting after tweeting about high drug costs; she has said if elected, she’d implement programs to force industry to concede tens of billions of dollars in tax breaks, lower prices and increase research spending