Here’s your soundtrack for your solitary walk today: BIO CEO Jim Greenwood recently spoke to WWDB-AM Philadelphia about what the industry’s doing to beat the coronavirus, as well as how we can ensure people can afford their medicine, for this disease or others.
BIO’s on the frontlines of coronavirus cures—he explained, helping companies share information and science because “there are lives on the line, thousands and thousands of them.”
And already, there are several promising medicines in the pipeline, like Gilead’s remdesivir, Regeneron’s lung treatment, and Moderna’s vaccine, to name just a few. (You can find more at www.bio.org/coronavirus.)
The industry is focused on finding treatments, diagnostics, and cures, full stop. “We’re the people who are trying to save lives.” he explained. “We’re not thinking about money, we’re not thinking about commercial opportunities.”
But the coronavirus shows us why we need to fix out-of-pocket costs, too. “The science is taking off, and it’s going to mean so much for people,” he said. “The problem is too much money has to come out of their pocket sometimes…and that’s why we need to limit the deductibles for drugs."
This is possible if we keep two principles in mind: “No one should ever do without the medicine they need because they can’t afford what’s required to come from their pocket,” he said. “And no policy should ever disincentivize investment into these biopharmaceutical companies.”
Listen to the 25-minute interview here.
More Health Care News:
Biopharma Dive: A small NASH drugmaker finds positive data, but coronavirus makes for a 'tricky' path forward
“Akero's data show study participants who were given AKR-001 experienced greater liver fat reduction than those given a placebo.”
Biopharma Dive: No sanctions for Novartis as FDA ends review
“’FDA has completed its review of the information and records of the inspection, the evidence collected, and the firm's responses as well as the corrective actions to the inspectional observations, and the agency has classified the inspection as Voluntary Action Indicated,’ the FDA spokesperson said.”
NPR: HHS to help companies develop COVID-19 vaccines
“HHS's Biomedical Advanced Research and Development Authority, BARDA, said Monday that it will help speed up clinical trials for both companies' experimental vaccines, and support Janssen Pharmaceuticals, a unit of Johnson & Johnson, in making up to 300 million doses annually in the U.S.”