Drug price controls are a dance with the devil: short-term savings will be overwhelmed by loss of innovation

Democrats have sent the legislative text of a sweeping proposal for drug price controls to the U.S. Senate parliamentarian, who may report on Monday whether the provisions qualify for the budget reconciliation process that allows lawmakers to evade a filibuster and pass a bill with a simple majority. Democrats expect the various drug-related provisions to reduce federal spending by roughly $300 billion over a decade.

Read more: Drug price controls are a dance with the devil: short-term savings will be overwhelmed by loss of innovation