By Peter J. Pitts

As the COVID-19 pandemic rages on, all eyes are on the United States for smart strategies, treatments and a cure. The good news: Our biopharmaceutical companies have been working around the clock to deliver help as quickly as possible.

Yet, some lawmakers are pushing for a bill that could stifle the desire to invest in lifesaving innovation.

Senators Ron Wyden (D-OR) and Chuck Grassley (R-IA) have been racing to pass their sweeping Prescription Drug Pricing Reduction Act. The measure would effectively impose price controls and massive new taxes on pharmaceutical innovators...