As Democrats attempt to ram through their drug pricing scheme in their multi-trillion dollar tax and spend agenda, John Crowley, CEO of biotechnology company Amicus Therapeutics, appeared in a Ways and Means Health Subcommittee GOP meeting to share his fight to find cures for his children’s rare disease. There, he warned that Democrats’ price controls on drugs would result in less research, development, and life-saving cures.
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In his opening remarks, Mr. Crowley said:
“I think about future families who would have a child born with a rare devastating disease, and they’re going to ask the same questions we did 23 years ago. Where is the research? Who has an idea? What can we do for our child?
“I’m afraid if any of this legislation passes – price controls are put on the industry today that would drain research and development dollars – I’m desperately afraid that that’s going to have an impact that would be a mistake for the ages.”
Top Republican on the Ways and Means Committee Rep. Kevin Brady (R-TX) kicked off the meeting by asking about the consequences of Democrats’ drug pricing scheme on future cures.
Mr. Crowley responded, “To devastate this industry would be a mistake that would be incomprehensible to fewer generations.”
Top Republican on the Ways and Means Health Subcommittee Rep. Devin Nunes (R-CA) warned that Democrats’ proposal H.R. 3 would reduce the number of drugs brought to market by 88 percent.
“Whether it’s 88 percent or some equally high number, it will have a devastating effect,” Mr. Crowley agreed. “I have 50 rare disease programs in our pipeline that we’re researching, and I’ve got to decide then which we can afford to move forward, and which we can’t. This would likely mean dozens of those programs we’d have to stop and kill research in. And they would likely be the most severe diseases.”
Reps. Brad Wenstrup (R-OH) and David Schweikert (R-AZ) asked how Congress can better equip American companies to lead the world in research and development of cures.
“One of the great lessons out of Warp Speed and what we were able to do with the COVID vaccine is that fast science can also be great science, and we’ve proven that,” Mr. Crowley said.
Reps. Adrian Smith (R-NE) and Jodey Arrington (R-TX) asked about ensuring biotechnology companies can innovate to provide the best cures to American patients and families.
“I helped to write a letter about two years ago — a new social contract. More than 200 biotech CEOs signed onto this letter, and it talked about patients being the first and foremost responsibility, and access being as important as innovation,” Mr. Crowley said.