Washington, D.C. (July 31, 2009) — Pharmaceutical Research and Manufacturers of America (PhRMA) President and CEO Billy Tauzin issued the following statement today regarding the U.S. House Committee on Energy & Commerce’s endorsement of reasonable data protection:
“PhRMA, along with research universities, patients and healthcare providers, support the development of a responsible, abbreviated approval pathway for biosimilars.
“Today’s strong bipartisan vote by the House Committee on Energy & Commerce is a step in the right direction because it strikes an appropriate balance between the desire for enhanced competition and preserving incentives for innovation.
“Such incentives are vital for ensuring continued development of biologics that patients with complex diseases rely on today and will help to provide cures in the future.
“Already, biologics have revolutionized health care with effective, targeted therapies that battle some of the most costly and complex diseases, such as cancer, and are looked to for future cures and treatments for Alzheimer’s and Parkinson’s. As of 2008, more than 300 biologics had been approved by the Food and Drug Administration and 633 biotechnology medicines were in development, including more than 250 for various cancers.
“If we’re going to cure cancer in our lifetime, as President Obama has challenged America to do, biologics, undoubtedly, will play an instrumental role.”
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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