Letter to the Editor: SB 13 An Act Reducing Prescription Drug Prices
I am writing today on behalf of the Chamber of Commerce of Eastern Connecticut regarding SB 13, An Act Reducing Prescription Drug Prices.
While we can all agree that lowering healthcare costs is an important goal, it is unlikely this bill will accomplish that. It is important to understand the far-reaching impact the price-setting policies contained in SB 13 will have on this vital industry.
The proposed legislation will stifle research and innovation that provides cures and treatments. We must also consider that this industry in Connecticut is responsible for 8,963 direct jobs and 26,470 indirect jobs, totaling 35,433 jobs.
SB 13 attempts to create a drug importation program with Canada, an idea fraught with problems that will make the program unworkable.
As Connecticut emerges from the COVID-19 pandemic we are aware more than ever of the critical role the biopharmaceutical industry plays in the well-being of society. The biopharmaceutical industry manufactured vaccines in record time, saving millions of lives. We are proud that companies, such as Pfizer, our friends and neighbors, were leaders in this research.
I urge you to review the implications of SB 13 and the impact pharmaceutical price setting and drug importation will have on our citizens.
President and CEO, Chamber of Commerce of Eastern Connecticut