Revenue Recognition Principles Negatively Impact the Biotechnology Industry, New Study Confirms
Collaborative arrangements typically involve a small biotechnology company and a larger company that agree to share technology and research costs. This mechanism allows both entities to access additional funding and commercialization networks, while sharing the costs of bringing important medical therapies to market. Biotechnology research and development costs between $800 million and $1.2 billion over eight to 12 years to bring a biopharmaceutical to market - an enormous investment that makes collaborative arrangements both common and critical to finding treatments and cures.

AARP Drug Price Survey Overlooks Critical Factors
The AARP report on price trends for specialty drugs ignores the many factors that counter and mitigate the price trends mentioned in this analysis. The report focuses on data that is only a proxy for drug pricing in Medicare’s Part D program.

BIO Sponsors iGEM Competition
BIO this year became one of the sponsors of the International Genetically Engineered Machine (iGEM) competition. In this annual synthetic biology competition, teams of undergraduate students from around the world are provided a kit of biological parts from the Registry of Standard Biological Parts.

Weathering the Storm
Joshua Boger, President and CEO of Vertex Pharmaceuticals Incorporated and chairman of BIO’s board of directors discusses the importance of advocating for policies and actions that will support the innovation economy where biotech companies play such a critical role.

BIO Testifies to House Committee on Health Care Spending in a New Economic Stimulus
Rachel King, CEO of GlycoMimetics of Gaithersburg, Md, testified on behalf of BIO. In her prepared remarks, King told the subcommittee, "Of course, one way to both spur the economy and provide support for biomedical research is increasing federal funding of the National Institutes of Health (NIH)."