What we believe
Affordable innovation requires that we allow market-based pricing of medicines for a patent-intended period of time while relying on proper insurance with low out-of-pocket costs to make all appropriate care accessible to people in need.
In this way, what we pay for medicines ensures both their availability to all of us and continued biomedical progress. And by keeping out-of-pocket costs low, we don’t burden the vulnerable among us with paying for the peace of mind we all enjoy when we know that medicines are there if we need them. We preserve the hope that comes from knowing that brilliant scientists in industry and academia are working to find new cures we all may need someday. And as long as all medicines go generic without undue delay, then we can be confident that what we all pay for novel medicines via our insurance premiums is spurring industry to keep innovating and developing better treatments. It’s the synergy of insurance with innovation that allows us all to enjoy affordable innovation, to which all countries should contribute their fair share by properly valuing new medicines.
We are committed to protecting the development of future cures without burdening today’s patients with high out-of-pocket costs.
New cures
Universal access
Inexpensive generics
New medicines benefit all of us. Affordable innovation makes us all better off.
The promise of new treatments offers hope to patients still waiting for a cure.
All of us should share in the urgency to discover new medicines. We should spread the cost of incentivizing the development of new cures over all of society through our insurance premiums and not burden just the patients among us with high out-of-pocket costs that some can’t afford.
Without the right incentives, most ideas will never leave the lab. The potential profits of a new drug motivate investors, including many hardworking Americans growing their pension savings, to provide scientists and researchers with the resources they need to discover new cures. Those treatments then have the power to save all of us from hospitalization and preserve our productivity, leaving our communities better off.
Medical progress over the last quarter century has reduced suffering and saved millions of lives. There’s so much more we can do.
Proper insurance should provide access to new cures with no out-of-pocket costs.
New medicines ultimately benefit all of us. Society ought to pay for them together without burdening those who need them today with high out-of-pocket costs.
Most of us pay for health insurance even while we’re healthy. We may need that insurance if we become sick, injured, or develop a chronic disease.
Yet many insurance plans still charge high out-of-pocket costs for prescription drugs–even for treatments prescribed by their doctor. We believe that insurance should cover prescribed treatments without high out-of-pocket costs. Otherwise, what are premiums for?
The ultimate promise of innovation is fulfilled once medicines go generic.
Generic drugs provide society with trillions of dollars in savings, as intended by the patent system. Expiring patents motivate researchers and investors to find new cures. And both novel branded medicines and older generics can be equally affordable via proper insurance.
Via constraints and incentives rooted in both regulations and individual choices, society creates and shapes markets that motivate individuals to work for society’s benefit, whether they know it or not.
Our collective healthcare is improved through the development of better medicines and, because medicines can go generic whereas hospitals cannot, we are better served by inventing new medicines to keep us out of hospitals than by foregoing innovation and relying on hospitals.
This framework of insurance and investment enabling affordable innovation exists on a foundation of education, basic science funding, infrastructure, and the rule of law. It can be broken with the wrong policy changes or improved with the right ones.
We’re building support across the biotech ecosystem
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