WASHINGTON, D.C. – John F. Crowley, President and CEO of the Biotechnology Innovation Organization (BIO), released the following statement on the finalization of the GLOBE model.
“Biotechnology is one of America's greatest strengths, delivering medical miracles to patients, driving economic growth, and advancing our national security. Mandatory, government price-setting policies under the guise of “most-favored nation” will not address the underlying drivers of health care costs, nor will they remove the barriers that keep patients from accessing the medicines they need. Instead, the decision to finalize the GLOBE model threatens the innovation ecosystem that makes new treatments and cures possible.
“At a time when the United States should be strengthening its leadership in biotechnology, MFN only further enables the ascent of China, which is aggressively investing in life sciences and advanced technologies.”
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