Overview

Developing life-changing drugs is risky and expensive--but that's not what makes them unaffordable. Drug pricing is a staple of every news cycle and political debate. And while we've struggled for decades to agree on solutions that serve all patients without jeopardizing the invention of new medicines, many Americans suffer because they can't afford the drugs they need. Do we really have to choose between affordability and innovation? In The Great American Drug Deal, scientist and industry expert Peter Kolchinsky answers this question with a decisive No. The pharmaceutical industry's commitment to creating new lifesaving drugs destined to become inexpensive generics can be balanced by the healthcare system's commitment to making those drugs affordable for all patients--a Biotech Social Contract. Through deep research and compelling stories of breakthroughs and breakdowns, Kolchinsky presents solutions for striking a balance that are bold yet realistic and tackle today's most pressing questions, including: Why doesn't insurance make drugs affordable? How can we prevent price-jacking of older drugs? Why are drugs more expensive in America than elsewhere? How can we guarantee that all medicines eventually go generic so they are only temporarily expensive? What systemic failures led to the opioid crisis, and how can we prevent the next one? The Great American Drug Deal offers clear-eyed scrutiny of all players in the industry and examines vital ideas for closing loopholes, encouraging investment, dealing with bad actors, and educating consumers. It's time we resolve to support patients and fuel discoveries that ease suffering now and for generations to come.

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9781733058919

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Magnificent. Compelling. Authoritative. Every member of Congress, staffer, and researcher interested in understanding the nexus of biomedical innovation, pricing, and affordability should read The Great American Drug Deal. Kolchinsky will amaze you with his knowledge of the industry and surprise you with his unshrinking prescriptions for reform. Clear and accessible, this is the history, science, and finance class that can help American voters steer the healthcare debate. --Amitabh Chandra, PhD; Ethel Zimmerman Wiener Professor, Harvard Kennedy School of Government; Henry and Allison McCance Family Professor of Business Administration, Harvard Business School

"""Magnificent. Compelling. Authoritative. Every member of Congress, staffer, and researcher interested in understanding the nexus of biomedical innovation, pricing, and affordability should read The Great American Drug Deal. Kolchinsky will amaze you with his knowledge of the industry and surprise you with his unshrinking prescriptions for reform. Clear and accessible, this is the history, science, and finance class that can help American voters steer the healthcare debate."" --Amitabh Chandra, PhD; Ethel Zimmerman Wiener Professor, Harvard Kennedy School of Government; Henry and Allison McCance Family Professor of Business Administration, Harvard Business School"

Author Information

Peter Kolchinsky is a biotechnology investor and a scientist. He co-founded and runs the Boston-based investment firm RA Capital Management, writes and teaches about biomedical entrepreneurship and its potential to transform global health, serves on the boards of several public and private drug development companies, and has served on the Board of Global Science and Technology for the National Academies of Science. He lives in Massachusetts with his historian wife, strong-willed children, and reasonably well-trained dog.

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