WASHINGTON, D.C. (February 22, 2024) – The Pharmaceutical Research and Manufacturers of America (PhRMA) today announced that Neurocrine Biosciences, Inc., has joined the association as a member. Neurocrine is a biotechnology company pursuing life-changing treatments for patients suffering from neurological, neuroendocrine and neuropsychiatric disorders among other rare diseases and conditions.

“PhRMA companies bring hope to patients against all odds, and Neurocrine is no exception,” said Stephen J. Ubl, president and CEO of PhRMA. “The company’s history and purpose are rooted in delivering treatments for underserved patients. Kevin Gorman will be a valuable voice on the PhRMA board as we advocate for policies that lower costs for patients while allowing our industry to keep bringing forward new, innovative treatments.”

San Diego-based Neurocrine will support PhRMA’s policy efforts in protecting innovation and making sure patients can afford and access their medicines. These policies include educating policymakers about positive solutions to help lower patients’ out-of-pocket costs at the pharmacy, as well as the dangers of government price setting and its negative impact on access to medicines and future innovative treatments and cures.

“At Neurocrine, we work tirelessly to develop treatments to relieve suffering for people with great needs, but few options,” said Kevin C. Gorman, Ph.D., Chief Executive Officer of Neurocrine Biosciences. “We live in a time of incredible hope and scientific progress, and it has never been more important to advocate for policies that protect the development of new treatments. I look forward to collaborating with PhRMA, policymakers and other important stakeholders to support future innovation and ensure medicines are affordable for all patients.” 

Neurocrine is the second life sciences company to join PhRMA in recent months. The association announced in December 2023 that Genmab, a fast-growing biotechnology company developing antibody therapeutics to fight cancer and other serious diseases, joined the association.

The biopharmaceutical industry is a leader among innovative industries, and PhRMA member companies specifically invest an average of 20% of their revenue in research and development (R&D). Since 2017, companies eligible for association membership must meet specific R&D criteria, including maintaining a three-year average global R&D to global sales ratio of 10% or greater, along with a three-year average global R&D spending of at least $200 million per year.