WASHINGTON, D.C. (December 22, 2005) -- Jim Greenwood, president and CEO of the Biotechnology Industry Organization (BIO), issued the following statement in response to the decision today by United States District Court Judge Richard J. Leon holding unconstitutional the District of Columbia government’s “Prescription Drug Excessive Pricing Act of 2005”:
“I am pleased that Judge Leon has ruled on the fundamental constitutional flaws associated with this legislation. By granting BIO’s claim for declaratory and injunctive relief, the Court has in its judgment shown that the District of Columbia’s law lacked a sound constitutional basis.
“Furthermore, this law would not have had the intended effect of increasing patient access to drugs. Instead, it would contribute to slowing down the development of new therapies for many maladies that affect our loved ones. These delays would have had a profound impact on the biotech industry, where most companies are still in the research stage and are heavily dependent on investment capital.
“BIO stands ready to work with the D.C. government to address any problems accessing innovative therapies.”
BIO represents more than 1,100 biotechnology companies, academic institutions, state biotechnology centers and related organizations across the United States and 31 other nations. BIO members are involved in the research and development of healthcare, agricultural, industrial and environmental biotechnology products.