BIO Lauds Senate for FDA and NIH Funding Boosts

WASHINGTON, D.C. (Thursday, May 22, 2008) - The Food and Drug Administration and National Institutes of Health received much-needed funding increases in the FY 2008 Supplemental Appropriations bill the Senate passed today.

In its $400 million appropriation to NIH, the Senate bill recognizes the need for increased appropriations for the NIH. Of the $275 million for the FDA, $48 million will go to the Center for Drug Evaluation and Research and $23 million to the Center for Biologics Evaluation and Research.  This funding will provide the FDA with the resources necessary to keep pace with rapidly evolving biomedical science and make sound regulatory decisions in a timely and efficient manner.

“These funds will make more treatments and cures being developed available to millions of Americans,” said Jim Greenwood, president and CEO of the Biotechnology Industry Organization.  “Proper funding of these agencies ensures that we can meet the growing demand for project grants, and fund the therapies our innovators and scientists are trying to bring to market.”

BIO is a founding member of the Coalition for a Stronger FDA.

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BIO represents more than 1,200 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.