Yesterday the Federal Trade Commission (FTC) announced the decision to settle its Amgen-Horizon merger challenge. The settlement will give the Commission the relief it needs to protect competition, while allowing rare disease patients to enjoy the deal's pro-competitive benefits without delay. BIO applauds the FTC's decision, which is in the best interest of not just U.S. patients, but patients around the world who rely on innovative new drugs to live longer and healthier lives. Shortly before the FTC's announcement, BIO -- along with Illinois BIO, Illinois Manufacturers' Association, and Chicagoland Chamber of Commerce -- filed a "friend of the court" brief warning that what appeared to be an abrupt shift in the FTC's approach to biotech merger enforcement would potentially endanger the drug development pipeline.  As the brief explained, acquisition of small innovators by larger, better established pharmaceutical companies is an important component of a dynamic innovation ecosystem. Smaller, nimbler companies, with a unique "breakthrough" culture, may not be well positioned to manage costly clinical trials, FDA approval, and global distribution. Acquisition by a larger company with all of these capabilities is an important potential solution. Consequently, FTC merger enforcement that views such transactions as inherently suspect is not in the public interest. Statement from John Delacourt, Deputy General Counsel, BIO: "BIO commends the Commission for settling litigation that disincentivized investment in treatments and cures for patients. Now BIO encourages FTC to efficiently and effectively support commercialization of these therapeutics. We believe the government can protect competition while enhancing the value of biotech M&A activity.”

New Season of I am BIO Podcast Covers Birds, Bees, and Bugs Fall 2023 season explores biotech solutions for wildlife conservation, bee health, drug-resistant bugs, and more Washington – (Aug. 30, 2023) – Save the date―the Biotechnology Innovation Organization will launch the fall season of the I AM BIO podcast, on September 5th. The popular podcast began airing in 2020 and dives into conversations about cutting-edge innovations around healthcare and the role of biotech in shaping a sustainable future. The season’s first episode explores scientists’ work on finding an alternative to using horseshoe crab blood to test for contaminants in drugs. Researchers have developed a synthetic alternative to the crab’s blood, and they believe that widespread adoption of the recombinant version will assist in conserving the crustacean, as well as the endangered birds that depend on them for food. “Our podcast on the horseshoe crab is a fascinating story of how an animal that most of us have never even seen provides an essential ingredient for testing injectable pharmaceuticals. Yet it is not sustainable,” said Theresa Brady, Executive Producer of the I am BIO podcast. “A synthetic alternative provides us an exciting opportunity to significantly contribute to the conservation of the horseshoe crab and the red knot—an endangered shorebird that relies on the eggs of horseshoe crabs for survival.” This, and other topics will round out a fall season full of insight into the world of biotechnology.  Additional episodes will cover: Biotech advances to save bees Female scientists at the forefront of new technologies How biotech start-ups survive the valley of death The promise of synbio to make manufacturing more sustainable Narrowly escaping death from an antimicrobial-resistant bug Guests on the I AM BIO podcast are experts on the topics discussed and explain science in clear, engaging narratives. In 2022, PR Daily named the I AM BIO podcast a finalist for…

The Biden Administration today unveiled the first 10 prescription drugs that will be subject to price controls under the Inflation Reduction Act (IRA). Rachel King, BIO interim President and CEO, made the following statement: The Medicare price control provisions of the IRA are already significantly, and negatively, impacting the research and investment decisions of the biotech industry in the US.  As we have said many times before, the IRA impacts not just the drugs targeted on today’s list, but the entirety of the biotech ecosystem that must make research and funding decisions many years in advance of ever hoping to bring a product to patients.  BIO and our members will continue our efforts to thwart the overtly negative impact the IRA’s price control provisions will have on patient access, innovation, and economic development more broadly.    

BIO released the following statement from John Delacourt, BIO’s Deputy General Counsel, on BIO’s amicus brief opposing the Federal Trade Commission (FTC) lawsuit to block the acquisition of Horizon by Amgen: “The FTC’s current overreach in antitrust merger enforcement is of great concern to BIO and its members. Recent actions indicate a shift away from 40 years of FTC decisions that supported an ecosystem delivering life-saving treatments to patients. We filed this amicus brief to challenge the FTC’s sudden focus on restricting mergers and acquisitions in the biotech industry, creating an environment that chills investment for new, cutting-edge therapies. It is throwing a boulder on the tracks of a speeding train, disrupting a longstanding business model that depends on acquisitions to drive innovation.”