Washington, D.C. (January 31, 2017) — Pharmaceutical Research and Manufacturers of America (PhRMA) president and CEO Stephen J. Ubl issued the following statement.
"This morning, we had a positive, productive meeting with President Trump, Vice President Pence and House Energy and Commerce Chairman Greg Walden, (R-Ore.). We talked about how we can work together to improve American competitiveness around the world, create more jobs here at home and enhance the U.S. biopharmaceutical industry that continues to lead the world in the development of lifesaving treatments and cures.
"We discussed many areas of common ground including: Advancing stronger trade agreements to level the playing field with countries around the world; reforming our tax code to spur investment and job creation here in the United States; and removing outdated regulations that drive up costs and slow innovation. We believe if these policies are enacted, it will translate to up to 350,000 new jobs over the next 10 years as a result of growth in the biopharmaceutical industry.
"We also talked about how we can work together on health care reform to give consumers more choices and create a more competitive health care marketplace.
"Our industry takes seriously the concerns raised about the affordability and accessibility of prescription medicines, and we have expressed our commitment to working with the administration to advance market-based reforms. The current system needs to evolve to enable the private sector to lead the move to a value-driven health care system. To do this, we need to reform existing laws and regulations that are currently preventing private companies from negotiating better deals and paying for medicines based on the value they provide to patients and our health care system.
"We look forward to working with the administration and Congress to advance solutions that promote economic growth and job creation and create a more competitive health care marketplace."
The Pharmaceutical Research and Manufacturers of America (PhRMA) represents the country’s leading innovative biopharmaceutical research 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 more than half a trillion dollars in the search for new treatments and cures, including an estimated $58.8 billion in 2015 alone.
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