The Biotechnology Innovation Organization (BIO) released the following statement in response to House passage of the revised USMCA: “The revised USMCA was a huge missed opportunity to create a positive framework for a dynamic and leading sector of the 21st century American economy. As we negotiate trade agreements, we should be creating strong foundations for the vibrant and vital industries of the future. And there is no industry more central to that future than biotechnology. The agreement gets it right on agricultural innovation, but by bowing to domestic politics, it falls far short when it comes to ensuring that America’s biopharmaceutical scientists and researchers remain the leaders in the development of innovative new cures and treatments. “One of the top priorities of President Trump has been to end foreign free riding on American innovation, ideas and ingenuity. In caving to politics, the Administration and Speaker Pelosi negotiated away one of the most important tools to end this behavior by eliminating enhanced intellectual property standards for American biopharmaceutical breakthroughs. “The goal of any trade agreement should be to raise the standards of our trading partners to meet those of the United States. By scrapping the biologics provisions, this agreement fails to achieve this central principle of negotiations.   Even more disturbing is the fact that Canada and Mexico had actually agreed to these stronger provisions in the original agreement, only to have them rejected by our own government. “For this reason, the USMCA should not be a model for future trade agreements when it comes to protecting medical innovation. Indeed, as we look ahead to future trade agreements with countries like China, the need for enhanced intellectual property protections for American biomedical innovation will be even more essential.  “While USMCA failed to promote biopharmaceutical innovation and to protect good American jobs, it made…

Washington, D.C. (December 19, 2019) – The Biotechnology Innovation Organization (BIO) today released the following statement in response to EPA finalizing rules on renewable volume obligations for 2020 and SRE reallocation: “Unfortunately, this final rule from EPA does not alleviate concerns we had when the draft rule was published earlier this year,” said Stephanie Batchelor, VP of BIO’s Industrial and Environmental Section. “The lack of growth for advanced and cellulosic biofuels, and the failure to fully reallocate the gallons lost from the drastic expansion of small refinery exemptions, will continue to stifle investment in green energy breakthroughs. This final rule will have a long-lasting negative impact on the country’s renewable fuels industry as we’ve already seen plants close because of the agency’s manipulation of the policy to date.” “While BIO appreciates the tireless work of biofuel champions on Capitol Hill in pressing the administration to bring certainty to renewable fuel policy—in particular, Senators Chuck Grassley and Joni Ernst, and Representatives Cindy Axne, Rodney Davis and Abby Finkenauer—we are greatly concerned that the administration continues to undermine the RFS and fails to understand that the intent of the program is to grow the market for clean, innovative fuels.” Learn more: Issue Brief: Renewable Fuel Standard News Release: Green Energy Solutions Unleashed Through New Partnership Biofuels Digest: Decarbonizing Transportation

Washington, DC (December 18, 2019) – Following the release of the Trump administration’s drug importation proposal, BIO’s President and CEO Jim Greenwood issued the following statement: “Patients deserve access to the medicines they need with out-of-pocket costs they can afford. Under no circumstance should we risk patient safety to achieve this goal, yet that’s exactly what this dangerous importation scheme will do. The idea that this plan will result in savings for patients at the pharmacy counter is a talking point that’s been debunked by nonpartisan budget experts and past FDA commissioners who served under both Republican and Democratic administrations. “Following the recent vote on Speaker Pelosi’s extreme drug pricing plan, today’s announcement is the latest empty gesture from our elected lawmakers who want us to believe they’re serious about lowering patients’ prescription drug costs. It’s time Congress and the administration delivered a holistic solution that protects the health and well-being of patients and ensures medicines are affordable.” Learn more: Issue Brief: Drug Importation Infographic: The Real Cost of Drug Importation DrugCostFacts.org: The Debate on Drug Importation WSJ: Drug Importation is “Impractical, Unsafe and Unlikely” to Lower Prices BIOtechNOW: The Empty Promise of “Safe” Drug Importation   ###