Biden Calls for Lower Drug Prices: Should Psychedelics Investors be Concerned?
At the start of July, US President Joe Biden signed an executive order to drive down prescription drug prices, with a wide-reaching impact across healthcare. Should investors in psychedelic medicine be concerned?
The government hopes to increase competition through the directive, in a market where Americans pay 2.5 times more for treatments than the global average. The US spends more on healthcare as a share of the economy than other developed countries, but has one of the lowest life expectancies, with the highest rate of avoidable deaths. As Biden’s government aims to curb revenue gains made by pharmaceutical companies, financiers wait patiently in the wings to contain threats and capitalise on emerging opportunities.Read More