Press Release

Statement on the President's FY 2010 Budget Proposal

PhRMA February 26, 2009

Washington, D.C. (February 26, 2009) — Pharmaceutical Research and Manufacturers of America (PhRMA) President and CEO Billy Tauzin today released the following statement regarding President Obama’s fiscal year 2010 budget:

“PhRMA congratulates the President on a budget proposal that lays a solid foundation for essential comprehensive healthcare reform. Moving forward, we vow to work alongside the President and all stakeholders committed to reforming our healthcare system in a way that emphasizes preventative care and brings high-quality, affordable coverage to all Americans.

“The proposed funds set aside to improve and strengthen the U.S. healthcare system are a bold step in the right direction toward comprehensive reform. The recent reauthorization of the State Children’s Health Insurance Program was an important step forward. Now is the time to work together to achieve our shared goal of ensuring that all Americans have access to healthcare coverage.

“Healthcare reform is not a luxury; it is essential to economic recovery and imperative to making Americans healthier and more productive.

“PhRMA also stands in lock step with the President’s courageous call to ‘cure cancer in our time.’ America’s pharmaceutical research and biotechnology companies are working on a record 750 medicines to fight this deadly disease that touches so many American lives.

“For that reason, PhRMA applauds the President’s request to increase funding for the Food and Drug Administration (FDA). A fully funded FDA is important not only to assure the safety of our nation’s food supply, as the President notes, but also to help ensure the safety and efficacy of cutting-edge medical innovations that all Americans seek. The cure for cancer that we’re all working toward will make its way to patients only after a careful review by FDA’s leading scientists.

"We understand the President's budget proposal must make tough choices in order to pay for needed reform. As Congress works through the budget process, we strongly urge against the adoption of policies that could undermine innovation and disrupt patient access to life-saving medicines."

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 $44.5 billion in 2007 in discovering and developing new medicines. Industry-wide research and investment reached a record $58.8 billion in 2007.

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