The coronavirus outbreak has become a worldwide emergency, and has led to serious concerns about medical shortages, including the availability of prescription drugs. While some states, including Pennsylvania, are trying to cap the price of prescription drugs, sometimes by creating so-called “affordability boards,” their policies will only lead to greater shortages and threaten public health. Despite the good intentions behind these “affordability boards,” a new report by my colleagues at the American Consumer Institute details how price controls will ultimately reduce consumer access to prescription drugs, most particularly low-cost, affordable generic drugs.
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