Lechleiter: Drug innovation is good medicine for the budget

12/11/2012 | Forbes

Pharmaceutical innovation can help solve the long-term budget deficit by driving economic growth and helping reduce health care costs, but short-sighted ideas like applying Medicaid controls to Medicare Part D prices could undermine that potential, PhRMA Chairman John C. Lechleiter writes. Drugs are often the most cost-effective treatments and prevention measures, and continued innovation is necessary to address medical needs that are not met by today's treatments and interventions, he writes. Innovative drugs provide economic strength to the U.S., which had a 57% share of new drugs from 2001 to 2010.

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