Press Release

PhRMA Statement on President’s 2011 Budget Proposal

PhRMA February 2, 2010

Washington, D.C. (February 2, 2010) — Pharmaceutical Research and Manufacturers of America (PhRMA) President and CEO Billy Tauzin issued the following statement today on the White House’s fiscal year 2011 budget:

“We look forward to thoroughly reviewing the President’s budget proposal, but we are encouraged by the Administration’s increased commitment to science, technology and innovation, including biomedical research.

“America leads the world in discovering and developing innovative medical therapies that have revolutionized health care, helping patients to live longer, healthier and more productive lives.

“Cancer patients are living, on average, three years longer – and 83 percent of those survival rate gains are due to new treatments, including medicines. In addition, death rates in the U.S. for HIVAIDS have dropped by 70 percent since 1995, also due to new treatments.

“These and untold other medical advances were driven by U.S.-based medical innovation. According to the Tufts Center for the Study of Drug Development, a staggering 75 percent of all new drugs approved worldwide from 2005 to 2007 were first introduced in the U.S.

“This home-grown innovation not only saves lives, it employs millions of Americans and pumps billions of dollars into our nation’s economy. But our continued leadership in medical innovation requires a regulatory environment and public policies that encourage such research.

“We also strongly support the President’s proposal to bolster core prevention and wellness activities in the U.S. Chronic diseases are the number one killer in America and are a major cost driver in our health care system, and spending for patients with these diseases account for 75 cents out of every health care dollar. Strong prevention and wellness programs, including medicines, can help to lower those costs and avoid other costly medical procedures.

“Lastly, we firmly support increased access to programs that treat diseases and illnesses affecting the world’s poorest nations. Such programs help reduce deaths from poor nutrition and common treatable illnesses that kill millions every year, particularly women and children. At this time, PhRMA member companies have more than 300 programs – with over 600 partners worldwide – supporting health outcomes in the developing world.”

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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