A bipartisan group of North Carolina U.S. lawmakers have introduced a bill they say fixes the Inflation Reduction Act's small molecule "pill penalty.”
Republican Congressman Greg Murphy, a physician, said small molecule drugs are pill-form medications that play an essential role in treating Americans battling cancer, neurological disorders, and other severe illnesses; however, he said the Inflation Reduction Act only gives pharmaceuticals that develop them nine years before Medicare can start negotiating lower prices.
Biologic drugs have 13 years to recoup the cost of development.
According to the University of Chicago, 188 fewer small molecule medicines will come to market and funding for their research has dropped by 70% since the IRA was introduced.
Cosponsor Democrat Don Davis said with diseases such as diabetes, Alzheimer’s, and cancer often having a disproportionate impact on vulnerable patients, access to high-quality, innovative healthcare treatments must remain a high priority.
North Carolina Republican Congressman Richard Hudson said creating incentives to develop new drugs can help ensure greater access to life-saving cures for patients.
