Wayne Winegarden
Blog
The fast food minimum wage hike continues to kill jobs
Governor Newsom Protests Too Much – the Minimum Wage Increase Did Destroy Jobs
As the New York Post reported, Newsom’s deputy director of communications Tara Gallegos disputed the findings of the piece, pointing out to Fox News Digital that the research paper was linked to the Hoover Institution, a public policy think tank she claimed has published “false or misleading information” about California’s ...
Blog
Read part 3 of a series on drug pricing
Regulations, Not Anticompetitive Actions, Are Obstructing Drug Competition
The flaws driving up costs across the broader health care landscape are also driving up the costs for innovative drugs. After all, pharmaceuticals are an integral component used in combination with the broader healthcare system. As a result, spending on medicines both influences and is influenced by the spending on ...
Blog
The U.S. Drug System Strikes a Reasonable Balance Between Incentivizing Innovation and Promoting Competition
The government explicitly grants innovators temporary market exclusivity to provide an opportunity for groundbreaking pharmaceutical companies to recover the costs of capital associated with developing novel treatments. This was one of the express purposes of past federal reform legislation, such as the Hatch-Waxman Act signed in 1984 and the Biologics ...
Blog
Read part 1 of a 3 part series on drug pricing
Conspiracies Aside, Drug Company Profits Are Average
Recently, the Federal Trade Commission (FTC) held its first of three listening sessions on the pharmaceutical market. The goal was to discuss reforms that will improve drug affordability by increasing “generic and biosimilar availability” and promoting “competition”. Achieving these goals is essential. The flaw of the first listening session is ...
Blog
Spending Watch
An Irresponsible FY2025-26 Budget All but Ensures Future Fiscal Crises
An Irresponsible FY2025-26 Budget All but Ensures Future Fiscal Crises Wayne Winegarden July 2025 Another fiscal year, another lost opportunity. In a June 2025 Spending Watch analysis, I lamented that Newsom was relying on gimmicks to close the current $12 billion budget deficit. The final budget the governor and legislative ...
Blog
The 340B Discounts Hospitals Receive Will Often Exceed Total Drug Prices in Europe
Table 1: PBM Fees and Rebates Can Exceed International Prescription Medicine Prices by As Much As 900% I previously highlighted how estimated rebates and fees PBMs receive for 10 commonly used brand medicines far exceed the total prices of those medicines in eight OECD countries (see Table 1). For example, ...
Blog
Read the latest on California's growing budget problem
Deficits as Far as the Eye Can See
In its Multiyear Budget Outlook, the Legislative Analyst’s Office (LAO) summed up the dire state of California’s fiscal state. According to the LAO, Both our office and the Department of Finance (DOF) project operating deficits ranging from $10 billion to $20 billion over the multiyear period. These shortfalls represent future ...
Blog
Read the latest on the push for drug price controls
To Improve Drug Affordability Congress Should Fix the Payment System
Demanding that drug prices in the U.S. equal overseas prices is akin to demanding that the price of all expensive handbags should equal the prices for the knockoffs that people purchase from street vendors. Of course knockoff bags are cheaper. They violate the intellectual property rights of the bag’s maker, ...
Blog
Spending Watch
The May Revision Should Assume A Weaker Fiscal Position for FY2025-26
The May Revision Should Assume A Weaker Fiscal Position for FY2025-26 Wayne Winegarden April 2025 The recently enacted tariffs are significant tax increases on consumption and production, as I discussed in a February 2025 PRI Issue Brief. These tariffs will increase costs for consumers and reduce profits for businesses both ...
Blog
Imposing Price Controls on U.S. Drugs Won’t Level the Playing Field
The cost of capital for developing a new drug is $2.9 billion, including post approval research and development costs. Meanwhile, the process to develop a drug takes 10 years and only 12 percent of drugs make it to market. These costs do not change simply because governments impose price controls ...
The fast food minimum wage hike continues to kill jobs
Governor Newsom Protests Too Much – the Minimum Wage Increase Did Destroy Jobs
As the New York Post reported, Newsom’s deputy director of communications Tara Gallegos disputed the findings of the piece, pointing out to Fox News Digital that the research paper was linked to the Hoover Institution, a public policy think tank she claimed has published “false or misleading information” about California’s ...
Read part 3 of a series on drug pricing
Regulations, Not Anticompetitive Actions, Are Obstructing Drug Competition
The flaws driving up costs across the broader health care landscape are also driving up the costs for innovative drugs. After all, pharmaceuticals are an integral component used in combination with the broader healthcare system. As a result, spending on medicines both influences and is influenced by the spending on ...
The U.S. Drug System Strikes a Reasonable Balance Between Incentivizing Innovation and Promoting Competition
The government explicitly grants innovators temporary market exclusivity to provide an opportunity for groundbreaking pharmaceutical companies to recover the costs of capital associated with developing novel treatments. This was one of the express purposes of past federal reform legislation, such as the Hatch-Waxman Act signed in 1984 and the Biologics ...
Read part 1 of a 3 part series on drug pricing
Conspiracies Aside, Drug Company Profits Are Average
Recently, the Federal Trade Commission (FTC) held its first of three listening sessions on the pharmaceutical market. The goal was to discuss reforms that will improve drug affordability by increasing “generic and biosimilar availability” and promoting “competition”. Achieving these goals is essential. The flaw of the first listening session is ...
Spending Watch
An Irresponsible FY2025-26 Budget All but Ensures Future Fiscal Crises
An Irresponsible FY2025-26 Budget All but Ensures Future Fiscal Crises Wayne Winegarden July 2025 Another fiscal year, another lost opportunity. In a June 2025 Spending Watch analysis, I lamented that Newsom was relying on gimmicks to close the current $12 billion budget deficit. The final budget the governor and legislative ...
The 340B Discounts Hospitals Receive Will Often Exceed Total Drug Prices in Europe
Table 1: PBM Fees and Rebates Can Exceed International Prescription Medicine Prices by As Much As 900% I previously highlighted how estimated rebates and fees PBMs receive for 10 commonly used brand medicines far exceed the total prices of those medicines in eight OECD countries (see Table 1). For example, ...
Read the latest on California's growing budget problem
Deficits as Far as the Eye Can See
In its Multiyear Budget Outlook, the Legislative Analyst’s Office (LAO) summed up the dire state of California’s fiscal state. According to the LAO, Both our office and the Department of Finance (DOF) project operating deficits ranging from $10 billion to $20 billion over the multiyear period. These shortfalls represent future ...
Read the latest on the push for drug price controls
To Improve Drug Affordability Congress Should Fix the Payment System
Demanding that drug prices in the U.S. equal overseas prices is akin to demanding that the price of all expensive handbags should equal the prices for the knockoffs that people purchase from street vendors. Of course knockoff bags are cheaper. They violate the intellectual property rights of the bag’s maker, ...
Spending Watch
The May Revision Should Assume A Weaker Fiscal Position for FY2025-26
The May Revision Should Assume A Weaker Fiscal Position for FY2025-26 Wayne Winegarden April 2025 The recently enacted tariffs are significant tax increases on consumption and production, as I discussed in a February 2025 PRI Issue Brief. These tariffs will increase costs for consumers and reduce profits for businesses both ...
Imposing Price Controls on U.S. Drugs Won’t Level the Playing Field
The cost of capital for developing a new drug is $2.9 billion, including post approval research and development costs. Meanwhile, the process to develop a drug takes 10 years and only 12 percent of drugs make it to market. These costs do not change simply because governments impose price controls ...
