Press Releases
PhRMA Statement on Patent Reform Legislation
Washington, D.C. (April 18, 2007) — Pharmaceutical Research and Manufacturers of America (PhRMA) Senior Vice President Ken Johnson issued the following statement on patent reform:
“Like many other industries, America’s pharmaceutical research companies rely on a strong and effective patent system to provide the necessary incentives to develop new life-saving medicines and other cutting-edge innovations. Medicines discovered by our industry require anywhere from 10 to 15 years of research and development and cost an average of nearly $1 billion; this innovation is critically important in the never-ending war against disease.
“Reforms to the current patent system may be needed to address emerging concerns in some business sectors. In fact, the National Academy of Sciences (NAS) has argued that America’s 21st Century economy would benefit from an improved patent system. However, we are disappointed that bills introduced today in Congress do not include some important legislative reforms that were recommended by the NAS in its report, A Patent System for the 21st Century. Other provisions in the new legislation may damage the patent system in ways that are important to innovative sectors of the U.S. economy.
“Any reform must strike an appropriate balance, and we look forward to working with all other stakeholders to ensure that the patent system is changed in a way that promotes innovation across industries. We welcome a dialogue with members of Congress and other interested parties on these vitally important issues. We believe a reliable and vibrant patent system will continue to foster the innovation of new medicines that help patients live longer, healthier lives, and guarantee America’s economic competitiveness in the 21st century.”
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 $43 billion in 2006 in discovering and developing new medicines. Industry-wide research and investment reached a record $55.2 billion in 2006.
PhRMA Internet Address: www.phrma.org
PhRMA en Español: www.nuestraphrma.org
For information on how innovative medicines save lives, visit: www.innovation.org
For information on the Partnership for Prescription Assistance, visit: www.pparx.org
For information on the danger of imported drugs, visit: www.buysafedrugs.info