Drug Price Controls are Hazardous to Your Health
This is from a RAND study:
We found policies that [cut drug company revenues by 20 percent] could result in modest savings for consumers, in the best cases on the order of $5,000 to $10,000 per person over a lifetime.
In many other cases, those policies resulted in very substantial losses to consumers in the form of reduced life expectancy and those would be worth tens of thousands of dollars.
We found longevity declines on the order of about a half of year for people at the age of 55 when you look out to people who are alive in 2050 and 2060.
WOW. This is stunning, especially since it comes from RAND
This study undercuts the current efforts in Congress to lower drug company revenues — whether through importation or through direct negotiation of prices by the government.