Placeholder Banner

BIO Applauds Introduction of the Ensuring the Value of the 340B Program Act of 2018

March 1, 2018

Washington, DC (March 1, 2018) – BIO President and CEO Jim Greenwood issued the following statement today regarding the introduction by Senator Charles Grassley of S. 2453, the Ensuring the Value of the 340B Program Act of 2018:

“I applaud Senator Grassley for introducing reforms that would provide much-needed clarity for lawmakers and the public on how hospitals are profiting from the 340B Drug Discount Program. Congress created the program to help uninsured and vulnerable patients gain access to affordable prescription drugs. However, the evidence is now undeniable that this program has expanded well beyond the intent of Congress and that patients are not seeing the benefits they deserve.

“A recent study in the New England Journal of Medicine found that there was ‘no evidence’ of hospitals using 340B savings to expand care or lower mortality among low-income patients. And despite that abysmal track record, the program grew at a staggering 31 percent annually between 2013 and 2016. Clearly, reforms are needed to put the focus of the 340B program back on patient health, rather than hospital wealth.”

“I thank Senator Grassley for his leadership and commitment to the vulnerable patients whom this program was intended to help.”

Discover More
Event Highlighted Leadership in Vaccine Development and Regional Growth in Biotechnology Innovation Gaithersburg, MD (September 24, 2020) – Today, Maryland Governor Larry Hogan and Dr. Michelle McMurry-Heath, President & CEO of Biotechnology…
Washington, D.C. (September 22, 2020) –The Biotechnology Innovation Organization (BIO) today presented Sharon Bomer Lauritsen, founder of AgTrade Strategies LLC, former Assistant United States Trade Representative for Agricultural Affairs and…
Washington, D.C. (September 17, 2020) – The Biotechnology Innovation Organization (BIO) announced Dr. Pramod Chaudhari, Executive Chairman of Praj Industries Limited, as the winner of the 2020 George Washington Carver Award for Innovation in…