About PhRMA
The Pharmaceutical Research and Manufacturers of America (PhRMA) represents the country’s leading innovative biopharmaceutical research companies, which are laser focused on developing innovative medicines that transform lives and create a healthier world. Together, we are fighting for solutions to ensure patients can access and afford medicines that prevent, treat and cure disease. Over the last decade, PhRMA member companies have invested more than $850 billion in the search for new treatments and cures, and they support nearly five million jobs in the United States.
Connect with PhRMA
For information on how innovative medicines save lives, please visit:
www.PhRMA.org
www.VotersforCures.org
www.AmericasMedicines.com
www.Facebook.com/PhRMA
www.X.com/PhRMA
WASHINGTON, D.C. (January 20, 2025) – Today, the Pharmaceutical Research and Manufacturers of America (PhRMA) President and CEO Stephen J. Ubl released the following statement congratulating President Donald Trump on his inauguration as the 47th President of the United States:
“We look forward to working with the Trump administration and Congress to tackle our country’s biggest health care challenges. By focusing on prevention and mitigation of chronic diseases, we can improve patient outcomes, lower costs, and create a healthier future for all Americans.
“The pharmaceutical industry is the crown jewel of the American economy, giving American patients more treatment options than anywhere else in the world while supporting millions of high-paying, high-tech jobs around the country. Through innovation we’ve achieved significant breakthroughs, improved cancer survival rates, cured hepatitis C, and eradicated devastating diseases like polio and smallpox. New medicines are transforming our ability to prevent, treat, and cure deadly diseases more effectively, improving patient lives and reducing reliance on the most expensive parts of the health care system.
“To sustain this progress, we must preserve and strengthen America’s world-leading innovation ecosystem, which balances groundbreaking advancements with affordability, by encouraging the development of new treatments that eventually lead to lower-cost generics and biosimilar medicines. The Inflation Reduction Act, which is undermining U.S. leadership in medical innovation, must be addressed to ensure continued investment in life-changing treatments.
“Additionally, we must hold other players in the health care system accountable for driving up costs. PBM reform remains a top priority, as does addressing the misuse of the 340B program. Our industry remains committed to ensuring that patients, taxpayers, and employers see lower costs from the rebates and discounts that PBMs, insurers, and hospitals get off the price of medicine.
“We look forward to working together to build a stronger health care system – one that delivers better outcomes, greater affordability, and sustained innovation for the benefit of all Americans.”