Cancer Patients Need Private Innovation, Not Gov’t Meddling
President Joe Biden just announced a new effort that he hopes will spur the development of better, more precise cancer surgery technologies. The program is part of his administration’s “Cancer Moonshot,” which aims to halve cancer death rates in the United States by 2047.
Ironically, one of the biggest obstacles to achieving that goal might be Biden himself — or more specifically, his policies. The prescription drug price controls Biden signed into law as part of last year’s Inflation Reduction Act (IRA) have already dealt a blow to one of the greatest engines of medical innovation yet devised — America’s market-based biopharmaceutical sector.
Private firms have been making astounding progress battling a wide array of cancers using technologies that, just a few years ago, would have been unimaginable. As of 2020, there were over 1,300 therapies and vaccines in development for cancer.Read More