Washington, D.C. (December 10, 2019)
— Pharmaceutical Research and Manufacturers of America (PhRMA) president and CEO Stephen J. Ubl issued the following statement on removal of the biologics provision from the United States-Mexico-Canada (USMCA) agreement:
“The announcement made today puts politics over patients. Eliminating the biologics provision in the USMCA removes vital protections for innovators while doing nothing to help U.S. patients afford their medicines or access future treatments and cures. The only winners today are foreign governments who want to steal American intellectual property (IP) and free ride on America’s global leadership in biopharmaceutical research and development.
“The agreement signed with Canada and Mexico last year was a significant step toward leveling the playing field with our trading partners by delivering strong IP protections for American manufacturers. As USTR itself stated, nothing in the original agreement would have changed U.S. law related to biopharmaceuticals or increased medicine prices for American patients. Any statements to the contrary are purely political.
“We cannot support abandoning provisions that protect American companies and raise standards abroad. We hope that Congress and the Administration will pursue international trade agreements that hold foreign governments accountable by ensuring that they protect and value the ongoing discovery of much-needed medicines to treat and potentially cure the world’s most devastating diseases.”
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 $79.6 billion in 2018 alone.
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