WASHINGTON, D.C. (November 30, 2018) – Pharmaceutical Research and Manufacturers of America (PhRMA) president and CEO Stephen J. Ubl issued the following statement:
“We congratulate the United States, Mexico and Canada on signing the U.S.-Mexico-Canada Agreement (USMCA). This is an important step in the process to modernize North American trade, including by improving critical intellectual property (IP) protections and other standards in Canada and Mexico that will help to usher in the next generation of medical treatments and cures. When countries protect and value innovation, America’s biopharmaceutical companies can continue bringing new medicines to patients around the world. The IP standards in the USMCA far exceed those in any other international trade agreement. We look forward to continuing to assist efforts by the Administration and Congress to pass the USMCA.”
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 $600 billion in the search for new treatments and cures, including an estimated $71.4 billion in 2017 alone.