BIO Statement on California’s Drug Price Reporting & Transparency Bill

WASHINGTON–(BUSINESS WIRE)–Biotechnology Innovation Organization (BIO) Senior Executive Vice
President for Public Affairs Gary Andres issued the following statement
regarding passage of a drug price reporting and transparency bill (Senate
Bill 17
) within the California Senate:

“Any legislative effort to address the affordability of medicines must
be patient centered, holistic, and promote patient access to treatments
and cures. Biotechnology innovation is not only providing enormous
benefits to patients and value to the healthcare system, but it is a
proven job creator, directly employing over 242,000 Californians in
good, high-paying jobs, with billions invested in the state annually.
Senate Bill 17 fails to meet these tests and does not deliver on its
purported promises.

“BIO will continue to oppose legislative efforts, such as Senate Bill
17, that harm patient access to needed care by undermining competition,
disrupting existing drug product availability, or stifling investment in
the innovation ecosystem through misguided government intrusion.

“BIO encourages Governor Brown to weigh these important societal and
economic factors before signing legislation which poses such significant
threats to California’s economy.”

About BIO

BIO is the world’s largest trade association representing biotechnology
companies, academic institutions, state biotechnology centers and
related organizations across the United States and in more than 30 other
nations. BIO members are involved in the research and development of
innovative healthcare, agricultural, industrial and environmental
biotechnology products. BIO also produces the BIO
International Convention
, the world’s largest gathering of the
biotechnology industry, along with industry-leading investor and
partnering meetings held around the world. BIOtechNOW
is BIO’s blog chronicling “innovations transforming our world” and the
BIO Newsletter is the organization’s bi-weekly email newsletter. Subscribe
to the BIO Newsletter
.

Contacts

Biotechnology Innovation Organization (BIO)
George Goodno,
202-962-6660
Web: www.bio.org
Blog:
www.biotech-now.org
Twitter:
@IAmBiotech