Washington, D.C. (December 5, 2013) — Pharmaceutical Research and Manufacturers of America (PhRMA) Senior Vice President Matt Bennett issued the following statement on H.R. 3309, the Innovation Act, as passed by the U.S. House of Representatives today:
“PhRMA commends the House of Representatives for its work to curb abusive patent litigation.
“Despite some improvements made in the House legislation, we continue to have concerns that it would undermine the ability of patent holders to enforce their rights by filing and litigating a patent suit to completion. This could impose substantial burdens on the ability to enforce legitimate patents effectively and efficiently, potentially decreasing the value of patents and weakening incentives for innovation.
“We look forward to working with the Senate on targeted reforms to curb abusive patent litigation while maintaining incentives for biomedical innovation.”
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 approximately $550 billion in the search for new treatments and cures, including an estimated $48.5 billion in 2012 alone.
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For information on how innovative medicines save lives, visit: http://www.innovation.org
For information on the Partnership for Prescription Assistance, visit: http://www.pparx.org