Press Release

PhRMA Statement Supporting 21st Century Regulatory System

PhRMA January 12, 2011

Washington, D.C. (Jan. 18, 2011) — Pharmaceutical Research and Manufacturers of America (PhRMA) President and CEO John Castellani issued the following statement today regarding federal policies that cultivate medical progress:

“PhRMA applauds President Obama’s embrace of our nation’s entrepreneurial spirit and his pledge to clear the books of federal regulations that jeopardize the U.S. retaining its role as global innovative leader.

“PhRMA agrees that one starting point for this discussion is achieving the proper balance of vital regulations that protect and promote public health, while avoiding an overdose of regulation that imperils the future growth of the biopharmaceutical research companies who create today’s medicines and tomorrow’s cures.

“In our lifetimes, vaccines have succeeded in eradicating scores of childhood diseases. New-generation medicines have tamed chronic diseases and transformed ailments, such as HIV/AIDS, into manageable conditions. We’re on the cusp of a new revolution of personalized medicines, treatments tailored to individual patients.

“The common thread connecting these examples of better health is the innovative biopharmaceutical research industry that is firmly rooted in the U.S. America’s biopharmaceutical research companies today are the recognized global leader in developing new medicines. They are among the most innovative, research-driven enterprises in the world. They make medicines prized the world over for helping to save lives, improve health and reduce pain. Combined, they employ around 650,000 high-skill, high-wage men and women. And, every direct job supports nearly 3.7 additional American jobs.

“Encouraging medical progress includes creating the next generation of workers – from hard hats to lab coats – retaining and extending policies that secure our industry’s future and promote the growth of research and development investment here in the U.S.

“While the U.S. retains an advantage in medical innovation, it’s ours to lose. Today, PricewaterhouseCoopers issued the latest in a series of sobering reports identifying countries such as China, India and Brazil as making it a national priority to wrestle these high-value jobs from the U.S.’s grasp.

“American policymakers should challenge these other countries’ efforts by assembling a comprehensive framework that cultivates an environment that will encourage companies to remain here and grow here.”

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 $45.8 billion in 2009 in discovering and developing new medicines. Industry-wide research and investment reached a record $65.3 billion in 2009.

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