BIO Members Letter to Congress Re R&D Amortization
May 5, 2023
The Biotechnology Innovation Organization (BIO) and BIO members urge immediate legislative action to repeal the harmful R&D amortization provision that went into effect in 2022 and urge Congress to swiftly pass S. 866/H.R. 2673, also known as the American Innovation and Jobs Act in the Senate and the American Innovation and R&D Competitiveness Act in the House.
BIO’s comments support accelerated approval as an important regulatory pathway that allows patients with serious and life-threatening illnesses such as cancer to have earlier access to promising therapies.
The Biotechnology Innovation Organization (BIO) and BIO members urge immediate legislative action to repeal the harmful R&D amortization provision that went into effect in 2022 and urge Congress to swiftly pass S. 866/H.R. 2673, also known as the American Innovation and Jobs Act in the Senate and the American Innovation and R&D Competitiveness Act in the House.