The Biotechnology Industry Organization (BIO) appreciates this opportunity to comment on Senate Bill 1050. BIO is the largest trade organization to serve and represent the biotechnology industry in the United States and around the globe. BIO represents more than 1,100 biotechnology companies, academic institutions, state biotechnology centers, and related organizations. BIO members are involvedin the research and development of health care, agricultural, industrial and environmental biotechnology products. In particular, many of our members are involved in the research and development of life-saving therapies and play a critical role in delivering treatments that both prolong life and reduce the burden of disease for patients worldwide.
In Connecticut, we work closely with the Connecticut United for Research Excellence (CURE) an organization that represents more than 100 biotechnology companies, universities, academic institutions and others dedicated to advancing cutting edge research.
BIO respects the legislature's efforts to improve health outcomes and reduce health care costs for residents of Connecticut. We are concerned, however, that Senate Bill 1050 poses significant practical challenges for physicians and biotechnology companies, which could ultimately result in a potential negative impact on patient care and access to new innovative therapies.