PhRMA CEO says the U.S. must make clinical trials ‘more efficient’ to compete with China

Summary

PhRMA CEO Stephen J. Ubl discusses the need for the U.S. to maintain leadership in life sciences by improving clinical trial efficiency, reforming the drug supply chain, and avoiding harmful policies. He emphasizes economic and national security reasons for U.S. competitiveness against China. Ubl highlights policy areas such as centralizing clinical trials, addressing PBM and insurer practices, and preventing price controls or reduced research investment.

• Ubl stresses the importance of U.S. leadership in life sciences for economic and national security.
• He notes that clinical trials are 50% faster and 40% cheaper in China, urging efficiency improvements in the U.S.
• He criticizes PBMs, insurers, and hospitals for inflating drug prices and creating barriers to patient care.
• He warns against policies like price controls, reduced research investment, and tariffs that could hinder U.S. competitiveness.
• Ubl advocates for centralizing clinical trial processes to reduce negotiation delays.
• He mentions that insurers deny 70% of first prescriptions for brand medicines based on a report.
• The discussion focuses on policy measures to support the U.S. pharmaceutical industry.
• Ubl highlights the need to avoid dependency on China for critical medicines like vaccines.