Washington, D.C. (July 8, 2009) — The Pharmaceutical Research and Manufacturers of America (PhRMA) today announced the creation of a new committee of its Board of Directors dedicated to small biopharmaceutical companies.
PhRMA’s Board of Directors recently approved the establishment of the new committee, which will be composed of full and research associate members. The committee was created to address the particular issues facing these smaller companies, including the impact public policies may have on such an important sector of our economy.
David Holveck, CEO of Endo Pharmaceuticals, will chair the committee. Additional members have yet to be selected.
“Specialty pharmaceutical companies are, in many ways, impacted very differently by federal legislative and regulatory proposals than large PhRMA member companies. Now, more than ever, we need to be proactive as the industry continues to transform,” Holveck stated. “This new committee will focus on developing solutions to policy issues that are most important to smaller companies.”
“America’s pharmaceutical research and biotechnology companies are at the forefront of innovation, and it’s important that we address challenges and opportunities faced by all of our members – no matter how large or small,” PhRMA President and CEO Billy Tauzin stated. “We look forward to working closely with our small biopharmaceutical companies committee to help preserve and strengthen policies that foster the development of new medicines for patients fighting disease.”
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 $50.3 billion in 2008 in discovering and developing new medicines. Industry-wide research and investment reached a record $65.2 billion in 2008.
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