Everyday Americans own over 80% of the biopharma industry – making its long- term growth central to their economic security. Government price-setting policies, like the Most Favored Nations policy, would trigger major losses in the U.S. capital markets and economic growth, including:

• Wiping out nearly $886 billion in equity market value of U.S. companies.
• Reducing the supply of U.S. investment-grade corporate bonds by $60 billion.
• Cutting $46 billion in annual returns on public pension funds – a $1,267 (11%) decrease a year – for 36 million Americans.

The full negative financial impacts would be even larger after taking into account the effects on individually held 401(k) accounts, IRAs, and brokerage accounts.