Press Release

PhRMA Applauds Passage of Russia PNTR

PhRMA December 7, 2012

Washington, D.C. (December 6, 2012) — Pharmaceutical Research and Manufacturers of America (PhRMA) President and CEO John Castellani issued the following statement today:

“We applaud Congress for approving Permanent Normal Trade Relations (PNTR) for Russia.  Improving trade relationships with Russia will protect and bolster U.S. biopharmaceutical jobs and exports.

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

“With Congress now passing PNTR, the United States will receive the same benefits from Russia’s accession agreement as all other WTO members.

“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 helps address many of the concerns affecting our industry in exporting to and competing effectively in Russia.”

The Pharmaceutical Research and Manufacturers of America (PhRMA) represents the country’s leading innovative biopharmaceutical research and biotechnology companies, which are devoted to discovering and developing medicines that enable patients to live longer, healthier, and more productive lives. Since 2000, PhRMA member companies have invested over $500 billion in the search for new treatments and cures, including an estimated $49.5 billion in 2011 alone.

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