BIO Strongly Supports the FDA Safety Over Sequestration Act

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Washington, D.C. (July 22, 2013)– The Biotechnology Industry Organization (BIO) today released a statement in support of the FDA Safety Over Sequestration Act (H.R. 2725), which would exempt user fees, including those paid by BIO member companies, from the operation of sequestration. 

The following statement can be attributed to BIO President and CEO, Jim Greenwood:

“BIO commends Representatives Leonard Lance (R-NJ) and Anna Eshoo (D-CA), as well as Representatives Mike Rogers (R-MI) and Doris Matsui (D-CA), for their leadership on this issue. 

“BIO also commends the statements of support for fixing this problem expressed by members of both the House and Senate Appropriations Committees during recent committee action.

“It makes no sense to subject private company-paid user fees to sequestration.  Having privately-paid user fees subjected to sequestration will do nothing to lower our nation's deficit. 

“Instead, the only real effect is that FDA will not be able to access all fees, thus negatively impacting their ability to fulfill its mission of ensuring patient access to safe, effective new drugs and biologics. 

“We firmly believe that freeing the user fees so that FDA can fully access them will greatly benefit public health.  We call on the Congress to quickly consider and pass this vital legislation.”

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About BIO
BIO is the world's largest trade association representing biotechnology companies, academic institutions, state biotechnology centers and related organizations across the United States and in more than 30 other nations. BIO members are involved in the research and development of innovative healthcare, agricultural, industrial and environmental biotechnology products. BIO also produces the BIO International Convention, the world’s largest gathering of the biotechnology industry, along with industry-leading investor and partnering meetings held around the world. BIOtechNOW is BIO's blog chronicling “innovations transforming our world” and the BIO Newsletter is the organization’s bi-weekly email newsletter. Subscribe to the BIO Newsletter.