|
|
|
We’ve packed a lot in today’s issue: BIO’s testimony on the TRIPS waiver at the USITC, a new poll that shows support from voters in both parties for pandemic preparedness, and a recap of CSBA’s Capitol Hill fly-in—plus, a few things you missed on the Hill. (599 words, 2 minutes, 59 seconds) |
|
|
|
|
BIO at TRIPS hearing: Actions matter to investors |
|
|
The threat of expanding IP waivers by the World Trade Organization (WTO) dampens investment in research, BIO’s Chief Policy Officer John Murphy testified yesterday before the U.S. International Trade Commission (USITC).
What’s happening at USITC? The U.S. Trade Representative is weighing whether to support extending the WTO’s waiver on COVID-19 vaccines to include COVID diagnostics and therapeutics. USTR asked USITC to investigate the issue, and yesterday was the first day of a two-day hearing.
The proposed expansion of the waiver “amounts to a broad assault targeting U.S. innovation” with “a particularly acute impact on U.S. based SME biotech firms,” especially because the U.S. accounts for 50% of global R&D on COVID-19 therapeutics, according to Murphy’s statement. |
|
|
|
Investors lose faith: Continued waivers tell investors “WTO agreements have the propensity to be renegotiated on the fly—waived in some circumstances,” and BIO members say this uncertainty hurts R&D fundraising, said Murphy.
“Actions and words matter,” Murphy said. “It’s not scaremongering to say that investors are going to look at the actions” of the WTO and “titrate their investment based on that.”
The market already feels it, he added: “It is materially true, and we’re seeing that now.” What’s next: The USITC hearing continues today—see the agenda and watch it live. |
|
|
Poll shows bipartisan voter support for pandemic preparedness |
|
|
Voters on both sides of the aisle want the government to pay for pandemic preparedness, according to a survey released today by BIO and Healthcare Ready. The key findings: - 95% believe “the federal government should prepare for a wide variety of potential public health emergencies.”
- 90% say “the federal government should expand long-term preventive measures.”
- 71% want the federal government to increase funding for public health preparedness.
- 77% would be more likely to vote for a candidate who supports funding for public health preparedness.
Why it matters: “Congress has an immediate opportunity to get ahead of these crises—and safeguard American interests in the process—as lawmakers review the President’s requested public health preparedness budget and work to reauthorize the Pandemic and All-Hazards Preparedness Act. We hope Congressional leaders hear voters’ concerns and move to fully fund U.S. public health, national security, and economic stability for decades to come,” says Phyllis Arthur,
About the survey: Commissioned by BIO and Healthcare Ready, Wakefield Research queried 1,000 likely U.S. voters in March across party affiliations.
Read the survey results now. More Health News: Axios: FDA approves first over-the-counter opioid overdose treatment
“The Food and Drug Administration on Wednesday cleared the overdose reversal drug Narcan for sale without a prescription… Narcan maker Emergent BioSolutions expects over-the-counter sales to begin by late summer due to manufacturing changes.” |
|
|
|
|
CSBA heads to Capitol Hill |
|
|
The Council of State Bioscience Associations (CSBA), a coalition of state-based bioscience trade associations convened by BIO, joined forces in Washington, D.C., on Tuesday and Wednesday to engage new and veteran lawmakers on the importance of biotech and the industry’s needs. Major biotech representation: 87 advocates, including leaders from more than half of CSBA’s trade groups and 20+ company representatives, conducted more than 120 Hill meetings about biotech’s policy needs.
A key deliverable: The delegates hand-delivered a letter, signed by 46 associations, in support of the American Innovation & Jobs Act of 2023.
Read more at Bio.News.
Watch the highlights:
|
|
|
|
|
|
|
|
President Biden’s Thursday: No official events scheduled.
What’s Happening on Capitol Hill: Agriculture Secretary Tom Vilsack is scheduled to testify before the House Appropriations Agriculture Subcommittee. The Senate Finance Committee has scheduled a hearing called “Pharmacy Benefit Managers and the Prescription Drug Supply Chain: Impact on Patients and Taxpayers.” The Senate Agriculture, Nutrition & Forestry Committee’s Forestry Subcommittee has scheduled a hearing on the Farm Bill.
Meanwhile, in the House Energy & Commerce Health Subcommittee hearing on President Biden’s 2024 budget proposal yesterday, Subcommittee Chair Rep. Brett Guthrie (R-KY) asked Health and Human Services Secretary Xavier Becerra whether the plight of small businesses and the impact on innovation was considered when the administration included expanded drug price controls in the budget proposal. “Most innovation comes from small businesses,” Guthrie said, “and they really need venture capital to move forward.” Watch the exchange below: |
|
|
|
|
|
