A national trade group representing biopharmaceutical companies said Wednesday that it will fight a proposal by Gov. Andrew Cuomo to institute price controls on some prescription drugs covered by Medicaid in New York state.
The Pharmaceutical Research and Manufacturers of America (PhRMA) said Cuomo’s plan, which is pending before the state legislature, will deter innovation of new drugs by New York manufacturers, add costly new bureaucracies in the state and do nothing to deliver savings to consumers.
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