Patent protections on new drugs have unleashed an unprecedented wave of innovation that has benefited patients and should be fiercely guarded, according to a new study published by Pioneer Institute. New research indicates that price controls contained in the Inflation Reduction Act will result in 230 fewer drugs coming to market over the next decade and job losses of between 730,000 and 1.1 million.

A Pioneer Institute study shows that middlemen—commercial pharmacies and pharmacy benefit managers—add substantial costs over wholesale prices. Allowing prescribers to dispense routine drugs would save consumers money without compromising safety.