North Columbus News

U.S. Representative Mike Carey, alongside 33 other House Republicans, has urged U.S. Trade Representative Jamieson Greer to take action against foreign policies that lead the American healthcare system to subsidize global pharmaceutical research and development (R&D). The letter, spearheaded by Representatives Vern Buchanan and Jodey Arrington, calls for a reevaluation of international practices that shift R&D costs onto American patients.

The letter acknowledges the USTR's recent "Request for Comments Regarding Foreign Nations Freeloading on American-Financed Innovation" and emphasizes the need for global trading partners to value U.S. medical innovation appropriately. It highlights the disparity in access to new medicines between American patients and those abroad.

"The U.S. is the world leader in biopharmaceutical innovation," the lawmakers stated. They noted that while nearly 90% of all medicines launched between 2012 and 2021 were available in America, only a fraction was accessible in countries like the United Kingdom, Australia, and Canada.

Despite representing less than 5% of the global population, American patients fund approximately 75% of global pharmaceutical profits. In 2023 alone, manufacturers invested over $96 billion in R&D, with more than $71 billion from the United States.

The letter also suggests creating a Chief Pharmaceutical Negotiator within USTR to ensure trade negotiations prioritize reimbursement for innovative medicines and hold trading partners accountable for price control measures or discriminatory practices affecting American patients.

The signatories express support for utilizing government resources to ensure fair valuation of American innovation globally and propose collaboration with the Executive Branch to address these issues.

"We applaud the Trump Administration for highlighting the impact foreign 'freeloaders' have on drug prices for American patients," they concluded.