A Biden-era policy, the Inflation Reduction Act of 2022, is criticized for empowering the Centers for Medicare & Medicaid Services (CMS) to impose price controls on certain Medicare drugs. This move, described as price-setting rather than negotiation, is predicted to discourage investment in new medicines, with some analyses showing a significant decline in small-molecule medicine investment. A proposed rule change by CMS could further harm innovation by grouping separately approved follow-on treatments into older price controls, potentially stifling the development of improved drug formulations and uses. AI
RANK_REASON The item is an opinion piece discussing the potential negative impacts of a specific government policy on innovation.
- Biden-era
- Centers for Medicare and Medicaid Services
- Congressional Budget Office
- Inflation Reduction Act of 2022
- Joe Biden
- Medicare
- United States Food and Drug Administration
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