Biotechnology Industry Organization (BIO) President and CEO Jim Greenwood issued the following statement today:
“The proposal released today by the Clinton campaign would do irreparable harm to the nation’s health innovation system, significantly hindering the ability of emerging biotechnology companies to develop the new cures and therapies that patients need to live longer, more productive lives. Intrusive government regulation of a system that relies on entrepreneurial vision and private capital is a recipe for failure. The provisions of the Clinton plan have been proposed many times in the past, and have always been rebuffed on a bipartisan basis because of the widely recognized fact that they are simply bad ideas for patients. We believe that fewer medicines would be produced and patient access to those medicines would be limited if the government set prices and became involved in private sector research and development.”
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.