BIO Statement on President’s Proposed 2019 Budget

WASHINGTON–(BUSINESS WIRE)–Biotechnology Innovation Organization (BIO) President and CEO Jim
Greenwood issued the following statement in response to President
Trump’s FY 2019 budget proposal:

“While we are still reviewing the details of the President’s proposed
budget, we applaud the President’s efforts to lower patients’ out of
pocket costs for prescription drugs, to provide more funding to combat
our nation’s opioid epidemic, and to rein in abuses of the 340B drug
discount program.

“That said, we have serious concerns that elements of this proposal
could fundamentally upset the successful Medicare drug benefit that has
been tremendously successful at providing American seniors with access
to needed treatments and cures while coming in well under initial CBO
estimates. We will continue to review these proposals in the coming days
and stand ready to work with the administration and members of both
parties in Congress to advance policies related to health, agriculture,
and energy that will preserve America’s role as the world leader in
biotechnology innovation.”

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

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York, New York


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June 4-7, 2018

Boston, MA


Biotechnology Innovation Organization (BIO)
Daniel Seaton,