PhRMA Statement on Election Day Results

Washington, D.C. (November 5, 2008) — Pharmaceutical Research and Manufacturers of America (PhRMA) President and CEO Billy Tauzin issued the following statement today regarding the outcome of yesterday’s election:

“We congratulate President-elect Barack Obama on his historic, hard-fought victory and look forward to working with his Administration and the new Congress in January. As our nation’s leaders look ahead and begin to shape their agendas for next year, America’s pharmaceutical research and biotechnology companies – which lead the world in discovering new cures and treatments for patients – welcome the opportunity to help address the difficult healthcare challenges facing America.

“As always, we will work with lawmakers on both sides of the aisle and will continue to support policies that encourage and strengthen innovation, improve patient access to medicines and expand healthcare coverage for all Americans.

“As the human and economic costs of chronic diseases – which are the leading cause of death and the main drivers of health costs in the United States – continue to grow, so too does the need for affordable health insurance.

“PhRMA recently unveiled its Platform for a Healthy America, which includes comprehensive and meaningful proposals that can help reduce costs and strengthen the quality of care for American patients. The platform supports a dual approach that focuses on expanding private health insurance while improving access to public programs, such as Medicaid and the State Children’s Healthcare Insurance Program. (To learn more about the platform, please visit www.phrma.org)

“We look forward to continuing our dialogue on all of these important issues – and many more – with President-elect Obama and members of the next Congress.”

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The Pharmaceutical Research and Manufacturers of America (PhRMA) represents the country’s leading pharmaceutical research and biotechnology companies, which are devoted to inventing medicines that allow patients to live longer, healthier, and more productive lives. PhRMA companies are leading the way in the search for new cures. PhRMA members alone invested an estimated $44.5 billion in 2007 in discovering and developing new medicines. Industry-wide research and investment reached a record $58.8 billion in 2007.

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