Government price setting is a prescription for reduced access and fewer cures for patients
- Feb 12
- 1 min read
By: Richard Bagger, Board Member, Center for Medicine in the Public Interest; former New Jersey State Legislator and Chief of Staff to New Jersey Governor Chris Christie.
When government officials propose policies that set prices for life-saving medicines, the idea can sound simple: make prescription drugs more affordable and easier to access. But history, economics, and global experience tell a much different story. Government price controls, including importing other countries’ price caps through “most favored nation” policies, may be well-intentioned, but they consistently lead to fewer treatment options, slower innovation, and worse outcomes for patients.
Price-setting policies aren’t new. But a quick trip through the history of where they’ve been tried reveals a disturbing pattern of shortages, long waits for treatment, limited access to therapies, and reduced medical innovation.