With its gift of $7.2 million to fund various research projects, the John and Laura Arnold Foundation gave a boost this week to the cause of lowering drug prices in America. According to the Foundation’s press release: “The research projects will focus on analyzing how regulatory policies and programs impact drug pricing, drug development, and patients’ access to medication.”
The lion’s share of the funds will go to the Memorial Sloane Kettering Cancer Center’s Evidence Driven Drug Pricing Project. Led by Dr. Peter Bach, the effort pursues strategies to evaluate the relative effectiveness of medications. The goal of Dr. Bach’s project is to make sure that medications are priced according to how well they actually work. Sounds like common sense, but too often medications that often don’t work are widely prescribed, and very expensive!
The money will also go toward various evidence-based studies looking into the workings of the drug development pipeline, state and federal regulations that affect Medicaid drug purchasing, and alternative Medicaid purchasing models that tie reimbursement to patient health outcomes.
One smaller project caught my eye, because it looks at pharmaceutical regulations and law that affect innovation. The Brigham and Woman’s Hospital’s Program on Regulations, Therapeutics, and Law will receive $748,445 to analyze existing regulations enacted to incentivize pharmaceutical innovation. The press release reads: “Researchers will analyze programs and incentives such as tax breaks, market exclusivity protections, and the Food and Drug Administration’s (FDA) fast-track approval pathways.”
In looking at regulations and law, the cause of lower drug prices would be well served by a research project dedicated to evaluating the effects of federal restrictions on prescription drug importation. Ostensibly, drug importation restrictions are in place to prevent unsafe and counterfeit medications from reaching patients, but we know that they also curtail access to lower cost, safe and effective medication as well. That’s why millions of Americans buy foreign medication online despite the prohibiting regulations.
New research would help determine a more suitable regulatory framework to protect patient health, but also expand access to more affordable medication through safe personal drug importation. This recent grant by the John and Laura Arnold Foundation is its second in the area of prescription drug prices. Three’s a charm!
