The U.S. leads the world in research and development of biotechnology products. A key reason is government support of basic research at universities through funding from the National Institutes of Health (NIH). Breakthroughs in basic research can lead to life-saving therapeutics through cooperative efforts of the public and private sectors. These efforts usually take the form of technology transfer agreements between NIH-funded institutions and biotechnology companies. BIO supports this current policy, which was established by Congress in 1980 with adoption of the Bayh-Dole Act. In the past discussions of "reasonable pricing" on NIH funded inventions, have upset the successful partnership between the private and public sector. Biotechnology companies need the freedom to license intellectual property in the manner that will be beneficial to the public and the growth of the industry and they should not be hampered by price controls.
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