The biopharmaceutical industry is committed to advancing solutions for a competitive, value-based health care system that makes better use of today’s medicines and fosters the development of tomorrow’s cures. The President’s budget goes in the opposite direction by including harmful and misguided proposals that would hurt patients and stifle innovation.
Mandating public disclosure of proprietary information would undermine our competitive market-based system and incentives for innovation. And while robust competition and negotiation in Medicare Part D allows seniors to access affordable prescription drug coverage and holds down other health care costs, the President’s budget proposes to fundamentally alter the structure of this successful program jeopardizing access, driving up premiums and reducing choice. There are also other harmful policies that would impact patient access to needed medicines in Part B as well as in Medicaid.
The President’s budget also includes proposals that would slow development of new treatments by reducing intellectual property incentives needed for their development.
For decades, America’s innovative biopharmaceutical companies have invested billions of dollars developing new medicines and therapies for patients including those fighting cancer, Alzheimer’s and other costly diseases. We appreciate the President’s continued interest in personalized medicine and the commitment to a moonshot to cure cancer, but believe those goals will only be achieved with a public policy environment that supports continued medical innovation.
Furthermore, we applaud the Administration’s focus on addressing heroin and opioid abuse, misuse and overdose and the proposed expansion of treatment services to help ensure that those in need of treatment can access the services they need.
PhRMA also appreciates acknowledgement of the need for change in the 340B program. Continued focus on thoughtfully reforming the 340B program to help vulnerable or underserved patients is needed.
As our companies continue working to help patients live longer, healthier lives, we must ensure polices support access to high quality, patient-centered care and continue to encourage development of innovative, life-changing medicines.