U.S. Chamber Welcomes Section 301 Investigation into German Drug Pricing

WASHINGTON, DC - Marjorie A. Chorlins, Senior Vice President for Europe at the U.S. Chamber of Commerce, issued the following statement in response to USTR's announcement of a Section 301 investigation on Germany's drug pricing policies:

"The U.S. Chamber welcomes USTR's decision to examine whether Germany's drug pricing policies unfairly undervalue American innovation. The goal of the Section 301 investigation should be to secure concrete reforms through bilateral engagement with Germany, rather than the imposition of new tariffs or other trade restrictions that harm the U.S. economy. Achieving a more balanced approach to valuing pharmaceutical innovation is critical to preserving U.S. leadership in life sciences, strengthening the transatlantic economy, and sustaining investment in the next generation of life-saving treatments for patients on both sides of the Atlantic."

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Background on the U.S.-German economic and strategic partnership: The Chamber has long supported the strong economic and strategic partnership between the United States and Germany, which is rooted in a shared commitment to strengthening innovation, fostering partnership, and free enterprise. That partnership works best when benefits-and costs-are shared fairly. For decades, many of America's trading partners have benefited from groundbreaking medicines developed by U.S. innovators while maintaining pricing policies that do not appropriately reflect their value, shifting a disproportionate share of global pharmaceutical R&D costs onto American patients and companies. The recent U.S.-UK arrangement demonstrates that longstanding pharmaceutical pricing and market access issues can be resolved through constructive engagement.