PhRMA Statement on Russia PNTR

Washington, D.C. (June 13, 2012) — Pharmaceutical Research and Manufacturers of America (PhRMA) President and CEO John Castellani issued the following statement today:

“We applaud Finance Committee Chairman Max Baucus, International Trade Subcommittee Ranking Member John Thune, Foreign Relations Committee Chairman John Kerry, and Armed Services Committee Ranking Member John McCain for their commitment to improving trade relationships overseas and for working to create jobs across every sector of America’s economy.

“The U.S. innovative biopharmaceutical industry supports Russian accession to the World Trade Organization (WTO). Russia received approval to join the WTO in December 2011 and will become a formal member by mid-2012.

“PhRMA urges the U.S. Congress to quickly extend Permanent Normal Trade Relations (PNTR) with Russia to protect and bolster U.S. biopharmaceutical jobs and exports.

“If Congress fails to pass PNTR, the United States will not receive the same benefits as all other WTO members at the time of Russian accession. In short, the U.S. biopharmaceutical industry and all other U.S. manufacturers, service providers, and agricultural interests will be left behind.

“In order to continue to foster economic growth in the United States and the much- needed medical breakthroughs that will save lives, the U.S. Government must continue to pursue public policies that promote innovation and that require protection of intellectual property rights and the removal of critical barriers to market access. Establishing PNTR with Russia will help address many of the concerns affecting our industry in exporting to and competing effectively in Russia.”

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