Oregon Governor Signs Misleading Drug Pricing Bill

WASHINGTON–(BUSINESS WIRE)–Jim Greenwood, President and CEO of the Biotechnology Innovation
Organization (BIO), and Denise McCarty, Executive Director of the Oregon
Bioscience Association, issued the following statements today after
Governor Kate Brown (D-OR) signed into law HB 4005, a misleading drug
pricing and reporting bill:

“The men and women of the biotech industry work every day to help heal
the world and improve the lives of patients,” said Jim Greenwood.
“Unfortunately, the bill Governor Brown has signed will have a chilling
effect on an innovative industry and do nothing to empower patients or
lower their prescription drug costs. The bill doesn’t shine any light on
insurers and other middlemen who ultimately determine how much people
pay for prescription drugs. The bill also doesn’t address the
discriminatory practices of insurance companies that force individuals
with rare and even life-threatening diseases to pay more for the
medicines they need. Instead of providing real transparency, state
policymakers have adopted a misleading scheme that will fail to provide
patients the lower drug costs they were promised.”

“Oregon’s life sciences community is critically important to our state,
providing higher-paying, technically skilled jobs directly to more than
17,000 Oregonians and helping to discover new cures and treatments for
patients,” said Denise McCarty. “Unfortunately, this legislation
will negatively impact not only workers and researchers but also
patients in need of life-saving medications. It will not impact drug
prices or provide meaningful information to those struggling at the
pharmacy counter with high out-of-pocket medication costs. Instead of
helping patients, the bill will hurt some patients by creating an unfair
stigma around medical conditions that are more costly to treat. HB 4005
may preclude solutions that would support biomedical innovation in our
state, recruit biotech companies and help patients afford the medicines
they need.”

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

About Oregon Bioscience Association

As the collective voice for the Oregon bioscience community, Oregon Bio
is responsible for communicating the industry’s economic impact, issues
and challenges to the public sector, educators and the public. The
organization supports the regional bioscience community through
networking, workforce development, educational programs, enterprise
support, advocacy and the promotion of research collaborations. Oregon
Bio promotes the growth and continually seeks ways to support
sustainability and growth in the life science, bioscience, biotechnology
and device manufacturing sectors. Oregon Bio is a nonprofit association
and an affiliate of the Biotechnology Innovation Organization.

Upcoming BIO Events

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March 19-20, 2018

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June 4-7, 2018
Boston, MA


Biotechnology Innovation Organization
Brian Newell, 202-312-9268