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.
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PhRMA convenes its first ever ‘State of the Industry’ event
WASHINGTON, D.C. (February 18, 2025) – The Pharmaceutical Research and Manufacturers of America (PhRMA) today released a new report highlighting the critical link between the industry’s future innovation potential and the policy environment needed to support it. Alongside the report, PhRMA unveiled its 2025 policy agenda, aimed at preserving and strengthening America’s world-leading innovation ecosystem and reducing costs for patients by taking on the middlemen and unnecessary bureaucracy. Together, these efforts reflect the industry’s commitment to a healthier America, preserving U.S. competitiveness, and building a more patient-centered health care system.
The new innovation report and policy agenda are released as PhRMA kicks off its inaugural State of the Industry event, the PhRMA Forum: Commitment to a Healthier America. The forum will feature discussions with top thought leaders in health care, including Mark Cuban, founder, Cost Plus Drugs; Dr. Vineeta Agarwala, general partner, Andreesen Horowitz; Max Jaderberg, Chief AI Officer, Isomorphic Labs; and Tiki Barber, former NFL running back and health care advocate. Additionally, leading executives from America’s biopharmaceutical research industry will join, including Daniel O’Day, Chairman, PhRMA and CEO, Gilead Sciences; Dr. Albert Bourla, CEO, Pfizer; Rob Davis, CEO, Merck; Emma Walmsley, CEO, GSK; and Dr. Vas Narasimhan, CEO, Novartis.
“I’m excited to host our first PhRMA Forum where we’ll celebrate our uniquely American innovation ecosystem and hear an impressive group of industry leaders share their vision for the future of health care,” said PhRMA President and CEO Steve Ubl. “During the last 25 years, we’ve made incredible progress against devastating diseases, and as we look to the future, there is every reason to hope and believe we can address our most pressing health challenges.”
The innovation report, entitled, “A new era of biopharmaceutical innovation: How medicines prevent disease, transform lives and create a healthier America,” is based on rigorous analyses of high-quality data and insights from government, academic and third-party research. The innovation report highlights:
- Biomedical progress in the first quarter of the 21st century, such as reduced cancer mortality rates, cures for hepatitis C, new GLP-1 treatments for obesity, and cell and gene therapies.
- A biopharmaceutical pipeline focused on changing the course of disease, with an increased focus on prevention.
- Research showing every dollar invested in medicines generates roughly three times the impact on life expectancy compared to other kinds of medical care.
- Intellectual property protections that are fueling patient choice and competition at a faster pace.
- New medicines as part of the solution to addressing the burden of chronic conditions, including Alzheimer’s, obesity and heart disease.
PhRMA’s 2025 Policy Agenda: Solutions for a Healthier America outlines policies to preserve and strengthen American innovation and take on the middlemen and bureaucracy to reduce costs and ensure patients can access the medicines that prevent, treat and cure disease:
- Adopt a pro-innovation regulatory and trade agenda that protects intellectual property, modernizes the FDA and defends American workers.
- Protect the United States from the harms of government price setting by fixing the Inflation Reduction Act’s pill penalty, reversing bureaucratic overreach to preserve innovation and competition, and ensuring patient access to medicines at the pharmacy counter.
- Stop abuse in the 340B hospital markup system through comprehensive reforms of the program.
- Put patients before PBM profits by sharing negotiated savings directly with patients and holding PBMs and health plans accountable for limiting patient choices.
To read the innovation report, click here.
To learn more about the 2025 policy agenda, click here.