The U.S. is a leading country in the world with regards to pharmaceutical research and innovation, outstanding research universities, and a huge investor community that directly plays a part in the process of the invention of new drugs. Also, the U.S. provides a free competitive market with no artificial limits on innovations. Anything disturbing this balance can prove as a set-back in the research field.

Advancement in science and technology relies on continuous research, and research requires investment. When it comes to #pharmaceutical industries, this research funding usually lies in raising the drug costs.

Pharmaceutical research is very costly, and the reason why investors are attracted to the U.S. to help fund this research is that it is profitable. Investors have been shy in stringent markets where price control limits profits. If we place a price limit on drugs, investors will flee away from the biotechnology field, and the research process will come to a halt. This alone should prove that price regulation in the U.S. cannot occur.

While the rhetoric of immediately lowering the drug prices sounds appealing, the reality is that the U.S. discovered many more new drugs in the previous century than other countries because it attracted investors with its lack of a pricing policy. We came up with drugs for more than 500 orphan diseases, drugs that the whole world is benefiting from it now. We need the money to continue to work on other diseases that have currently have no cure. A pricing policy will put a stop to advancements in the health sector.

In the long-term, the hampering of innovation will lower health outcomes. A price cap proposal is very short-sighted.