Congress should repeal every word of the Biden Inflation Acceleration Act, including the price controls on prescription drugs.
The price controls will undermine the incentives to develop new cures across the board but are especially harsh on pills. Pill-form so-called “small molecule” drugs can be subjected to government price controls as soon as nine years after FDA approval, while “large molecule” drugs, which are those that come as injections or intravenously, are allowed 13 years of market pricing.