Last week, President Trump announced a new agreement with Regeneron Pharmaceuticals to apply “Most-Favored-Nation” (MFN) pricing to all its future medicines for U.S. patients. Despite the rosy political spin about how this agreement will lower drug prices, it actually imports foreign price controls that undermine the medical innovation the administration has otherwise sought to protect—particularly through its reforms for so-called “orphan drugs,” which are medicines for rare diseases.
Only in Washington could discovering new uses for a life-saving medication be considered a liability. Unfortunately, that’s exactly how the Biden Administration treated orphan drugs.
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