Shortages of cancer drugs and other life-saving medications are reaching their worst point in a decade, forcing physicians to develop workarounds and the Biden administration to mount an all-of-government response.

Why it matters: The shortfalls are surfacing deeply entrenched problems in America’s drug supply chain, particularly around commonly-used generic drugs. A recent House hearing examined a “race to the bottom” in price that chills investment in manufacturing and can leave just one or two companies actively producing a drug in shortage.