Last year, my grandson and I were both diagnosed with autoimmune hemolytic anemia (AIHA), a condition in which the body’s immune system attacks and destroys red blood cells, causing anemia. As someone who struggles with health issues and was just diagnosed with AIHA, prescription drug access and affordability are critical issues for me. 

For the millions of Americans who, like me, rely on prescription medications to stay healthy and manage conditions, it is imperative that we do everything we can to continue to develop new medications, treatments and therapies through innovation and research while supporting policies that make medications affordable for Americans. 

Currently, Washington is considering implementing price controls for some prescription drugs. The so-called “Most Favored Nations” foreign drug pricing policy would place foreign price caps on medications Americans rely on. 

Price controls on medicines are often touted as a way to make drugs more affordable and accessible. While the goal is noble, the reality is that strict price caps imposed by foreign governments can have unintended and dangerous consequences for patients. Instead of ensuring access to medications and therapies that Americans need, these price controls often undermine the very innovation and supply chains that deliver new, life-saving treatments. 

Countries with aggressive price caps, like Canada and certain European nations, have seen a decline in the number of new drugs approved and brought to market. This is because companies prioritize markets where they can recoup their investments, leaving patients in price-controlled markets with fewer options for cutting-edge treatments. Price controls don’t just reduce incentives for innovation; they can also create immediate supply problems. Medication shortages mean patients face delays or rationed care, or are forced to seek medicines from less regulated or unverified sources, putting their health at further risk. 

The impact of price controls extends beyond individual countries. When pharmaceutical companies see that certain markets are unprofitable due to price caps, they are less likely to invest in those regions or in global research and development efforts. This reduced investment results in fewer new drugs being developed worldwide, diminishing the pipeline of innovative treatments available to everyone. The long-term consequence is fewer options for patients everywhere, and a less dynamic, less responsive health care system.  

While making medicines affordable is a crucial goal, foreign price controls are a short-term solution that can do long-term harm. They kill innovation, lead to shortages, and reduce options for patients worldwide. Instead of punishing patients and pharmaceutical companies with strict price caps, policymakers should seek balanced approaches—such as value-based pricing or increased transparency—that encourage innovation and ensure sustainable supply chains. 

Protecting patient health and access to new, innovative medications and treatments requires solutions that promote both affordability and continued medical progress. This isn’t an abstract issue for me. It is difficult, personal and all too real for me. 

Let’s prioritize policies that ensure a reliable supply and ultimately expand options for patients everywhere. Short-sighted foreign price controls threaten to undermine decades of medical progress and jeopardize the health of future generations.

Cristi Waltz lives in East Freedom, PA.