The World's Medicine Chest details how America became the world's leader in biopharmaceutical innovation and reveals how new threats to this industry will have disastrous consequences for patients and the U.S. economy.

In the 1970s, Europe was the global hub for pharmaceutical innovation. European drug companies developed more than twice as many drugs in that decade as their U.S.-based counterparts. But times have changed. Today, nearly half of all new drugs come from the United States. Just 22 percent are of European origin. And U.S. patients get access to innovative medicines before anyone else in the world.

Drawing on her decades of experience as a health policy scholar, Sally Pipes details how America became the world's leader in biopharmaceutical innovation. She argues that efforts over the last few years by Democrats and Republicans alike to impose price controls on prescription drugs will have disastrous consequences for patients and for the U.S. Economy.