Drug Price Bill Shifts Dollars From Cancer Meds, Analysts Warn

The Senate’s plan to lower US drug prices will inadvertently steer funds away from some life-changing medicines on the brink of release, including new cancer therapies, industry analysts say.

The House is expected to vote on Friday on a package that would enable the government to haggle with pharmaceutical giants over the costs of high-priced drugs. Complex drugs known as biologics are exempt from negotiations for over a decade after launch, but analysts warn that will shift investment dollars away from small-molecule drugs—which historically have been more common medications.

Small-molecule drugs include Eli Lilly and Co.’s breast cancer medicine Verzenio ...