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US Chamber: US Medical Innovation has Delivered $167.5T in Societal Value”
Category: Business News
Groundbreaking Study Reveals $167 Trillion in Societal Value Generated by American Medical Innovation.
New analysis highlights the human and economic impact of medical breakthroughs as policymakers consider harmful MFN‑style pricing controls
WASHINGTON, D.C. – A pioneering new study by University of Chicago economist Dr. Tomas Philipson, commissioned by the U.S. Chamber of Commerce, finds that American medical innovation has delivered $167.5 trillion in societal value based on a 30-year horizon across four major medical diseases. The analysis creates a comprehensive new framework and quantifies societal value, based on the extraordinary gains generated through advancements in treatments for HIV, heart disease, breast cancer, and obesity—including longer lives, improved quality of life, productivity growth, and strengthened federal tax revenues.
Source: U.S. Chamber of Commerce