Washington, DC (May 23, 2017) – Biotechnology Innovation Organization (BIO) President and CEO Jim Greenwood issued the following statement in response to President Trump’s FY 2018 budget proposal:
“While we are still reviewing the details of today’s proposed budget, we are encouraged by the proposals to clarify the treatment of value-based purchasing arrangements and to promote enhanced sharing of scientifically sound information between manufacturers and payers. These proposals have the potential to reduce costs and drive smarter spending within our health care system, and are consistent with the major recommendations endorsed last week by BIO and the Council for Affordable Health Coverage, a broad coalition including patient and consumer advocacy groups, employers, insurers, pharmacy benefit managers, and biopharmaceutical companies.
“We also are pleased with the proposed repeal of the Independent Payment Advisory Board (IPAB), an unelected and unaccountable board which threatens to come between patients and their healthcare providers when deciding upon the best course of treatment.
“However, we have concerns about the proposed re-opening of technical FDA user fee negotiations as well as some of the proposed funding levels for key scientific and public health preparedness programs. We look forward to working with Members of Congress on both sides of the aisle, as well as the Administration, to ensure that these critical programs supporting public health and basic biomedical and biobased technologies research receive adequate funding.”
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.