BIO Statement on California’s Drug Price Reporting & Transparency Bill
Washington, D.C. (September 13, 2017) – Biotechnology Innovation Organization (BIO) Senior Executive Vice President for Public Affairs Gary Andres issued the following statement regarding passage of a drug price reporting and transparency bill (Senate Bill 17) within the California Senate:
“Any legislative effort to address the affordability of medicines must be patient centered, holistic, and promote patient access to treatments and cures. Biotechnology innovation is not only providing enormous benefits to patients and value to the healthcare system, but it is a proven job creator, directly employing over 242,000 Californians in good, high-paying jobs, with billions invested in the state annually. Senate Bill 17 fails to meet these tests and does not deliver on its purported promises.
“BIO will continue to oppose legislative efforts, such as Senate Bill 17, that harm patient access to needed care by undermining competition, disrupting existing drug product availability, or stifling investment in the innovation ecosystem through misguided government intrusion.
“BIO encourages Governor Brown to weigh these important societal and economic factors before signing legislation which poses such significant threats to California's economy”
About BIO
BIO is the premier biotechnology advocacy organization representing biotech companies, industry leaders, and state biotech associations in the United States and more than 35 countries around the globe. BIO members range from biotech start-ups to some of the world’s largest biopharmaceutical companies – all united by the same goal: to develop medical and scientific breakthroughs that prevent and fight disease, restore health, and improve patients’ lives. BIO also organizes the BIO International Convention and a series of annual conferences that drive partnerships, investment, and progress within the sector. Learn more at bio.org.
###