The cost of developing drugs is rising at an unsustainable pace, new company formation in the biotech sector has dwindled, and healthcare costs continue to rise. We must craft policies that provide the proper incentives for new technology while making sure that we are getting more value for programs like Medicare.

Last month, the Drug Enforcement Administration abruptly revoked the narcotics license held by the distributor Cardinal Health, preventing that firm from shipping prescription pain drugs to thousands of Florida pharmacies and hospitals. It's the latest tactic in the DEA's struggle to stem the illicit use of prescription painkillers like OxyContin and Vicodin.

Scholars from AEI and elsewhere answer key questions about Medicare drug coverage and government controls.

Medicare Part D — delivering prescription drugs to seniors — has been a success since President Bush introduced it. And the Obama administration plans to threaten that achievement.

We have made promises in Medicare that cannot be kept, and we have compounded those promises with the Medicare Modernization Act.

Reform of Medicare is inevitable given the current debt limit debate. Democrats introduced a plan to reduce spending on Medicare Part D based on the presumption that manufacturers make extraordinary profits from the government. This means premiums for seniors and government spending on Medicare will likely increase, offsetting any savings.

Joseph Antos and Ximena Pinell find that enrollment in the Medicare prescription drug discount programrequires better consumer access to program information.

It would be a mistake to create even a limited Medicare drug benefit that repeats the mistakes of the past.