WASHINGTON, D.C. (October 17, 2023) – Today, Pharmaceutical Research and Manufacturers of America (PhRMA) Deputy Vice President for Public Affairs Megan Van Etten issued the following statement in response to the U.S. International Trade Commission (USITC) report on “COVID-19 Diagnostics and Therapeutics: Supply, Demand, and TRIPS Agreement Flexibilities:”
“The COVID-19 public health emergency is over and across the world there is an abundance of affordable and often free treatments. TRIPS waiver expansion is unnecessary and would harm American workers, patients and innovation by handing over IP to foreign competitors. It’s past time for the Biden administration and other world leaders to move beyond this ideological debate and focus on real global health challenges.”
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. Over the last decade, PhRMA member companies have more than doubled their annual investment in the search for new treatments and cures, including nearly $101 billion in 2022 alone.