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1 month ago | 
itif.org | Sandra Barbosu |Stephen Ezell
Overview. 1Price Setting Adversely Affects Biopharmaceutical Innovation. 2Price Setting Discourages Clinical Trials 4Conclusion.
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Jan 13, 2025 | 
itif.org | Sandra Barbosu
An important challenge for biopharmaceutical policy is balancing the objective of bringing new drugs to market quickly with the need to maintain rigorous safety standards. This challenge became especially relevant during the COVID-19 pandemic, when the rapid development and approval of vaccines showcased the potential of streamlined regulatory processes.
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Dec 19, 2024 | 
itif.org | Sandra Barbosu
The United States spends nearly 16.9 percent of its GDP on healthcare, almost double the OECD average, yet Americans’ lags behind by almost four years. Critics point to this mismatch to argue that high healthcare spending, particularly on pharmaceuticals, fails to deliver better outcomes and justifies calls for drug price regulation. However, this critique overlooks two key realities. U.S. drug spending as a share of GDP is stable and much closer to OECD averages than headlines suggest.
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Nov 18, 2024 | 
itif.org | Sandra Barbosu
KEY TAKEAWAYSDrug development is a costly, lengthy, and risky process, marked by declining productivity. Bringing a new drug to market can cost billions of dollars and take over a decade, with fewer than 8 percent of early candidates succeeding. AI has the potential to boost the efficiency of drug development, accelerating the delivery of new therapies and fostering competition, which could improve public health outcomes.
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Oct 28, 2024 | 
itif.org | Sandra Barbosu |Kirsten Axelsen |Stephen Ezell
KEY TAKEAWAYSThere is a pressing need for updated, robust evidence to inform biopharmaceutical policy. This need is especially urgent in light of recent initiatives such as the Inflation Reduction Act (IRA), which instituted price-setting provisions that would lead to reduced R&D investment and a large decrease in new drugs developed.
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Oct 23, 2024 | 
itif.org | Kirsten Axelsen |Sandra Barbosu |Stephen Ezell
The Information Technology and Innovation Foundation (ITIF) convened an expert symposium on October 10, 2024, to discuss the evidence that is currently available to assess financial returns from clinical development of biopharmaceuticals, and to consider related questions such as how investors measure financial returns, how drug development has evolved in the past 10 years, what kind of information is most useful in guiding biopharmaceutical policy, and what factors drive further innovation...
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Oct 4, 2024 | 
itif.org | Sandra Barbosu
The “Report on the Future of the Pharmaceutical Industry” by Mario Draghi, published in September 2024, examines some of the factors behind the European Union (EU)’s declining competitiveness in the biopharmaceutical sector. The report provides strategic recommendations aimed at reviving the industry.
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Aug 5, 2024 | 
itif.org | Sandra Barbosu
KEY TAKEAWAYSRecent Chinese government policies have emphasized domestic biotech innovation. A new national strategy has been crucial to the sector’s growth. Several factors are spurring growth, including subsidies, financial incentives, science parks, start-up incubators, talent recruitment schemes, public-private partnerships, and reforms to expedite drug review and enhance IP protection. Indicators suggest Chinese biotech is becoming more innovative.
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May 17, 2024 | 
itif.org | Sandra Barbosu
|May 13, 2024Consider a consortium of cancer research institutions seeking to develop a new precision medicine for breast cancer. Doing so entails analyzing patients’ genomic and phenotypic data to identify mutations that predict response to a new drug.
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May 6, 2024 | 
itif.org | Kirsten Axelsen |Sandra Barbosu
KEY TAKEAWAYSThere exists a clear link between the expected financial return from a drug and investment in drug research and development (R&D) in the biopharma industry. Government actions aimed at reducing drug costs, including price controls or reduced intellectual property (IP) protection, decrease the expected financial returns from drugs, leading to less R&D.
