40 vs. Six
40 vs. Six
08.17.11 | By
This is a "they missed the real story" story. Yesterday, Phama Times ran a story on the effort of a small group of Congressmen to keep biosimilars out of any Trans-Pacific trade deal. The story was factual so far as it goes and, certainly, it did note PhRMA's long-standing position on biosimilars data protection:
"Data protection is distinct from patent protection and is particularly important where the means to enforce patents are not readily available, and thereby provides one of the few incentives to launch and expand access to new medicines as rapidly as possible in developing-country markets."
But, while just six Members of Congress wrote the President to oppose biosimilars data protections in the proposed Trans-Pacific trade deal, Pharma Times neglected to report that 40 Members of Congress also signed a bipartisan letter urging President Obama to work to extend biosimilars data protections in the proposed trade deal.
These 40 Members of Congress understand something critical about the President's and other politicians' and policy makers' calls for more technological innovation as a key part of the solution to our current economic challenges. They understand the biopharmaceutical industry is the leading innovative industry in America today. They also understand that:
"Intellectual property-intensive industries employ more than 19 million workers, create higher paying jobs across all skill levels, and support more than 60% of total U.S. exports."
Finally, the 40 understand two important things that their six colleagues don't seem to get. Innovative industries, like the biopharmaceutical research sector, need a level playing field to compete globally and that setting strong standards helps U.S. biopharmaceutical companies secure the capital investment needed to help generate new treatments and potential new cures.
In short, the 40 get the link between fair intellectual property protection, the incentives and rewards companies need to invest in innovative R&D and the creation of new, innovative medicines that help patients here in America and around the world to live longer, healthier lives.