If lawmakers want lower drug prices, they should strengthen competitive pressure, not regulate it into passivity. The politics are easy to understand. Attacking middlemen polls well. It allows lawmakers to appear tough on prices without directly confronting manufacturers. But the economics are less forgiving. Lower drug prices require bargaining power. Congress has just reduced it. Patients and taxpayers will bear the cost.
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James Richardson, a 33-year-old from Pittsburgh, Pennsylvania, said without help from his parents, he would be homeless. He has applied to more than 1,200 jobs since being let go from his role as an information security analyst for a government contractor in October.