|
|
|
Day 2 of the BIO International Convention brought important conversations on biopharma's message in an election year, DEI, and how to grow the bioeconomy. Meanwhile, in Washington, D.C., lawmakers discussed 340B. (869 words, 4 minutes, 20 seconds)
|
|
|
|
How to follow Good Day BIO Live at BIO 2024 |
|
|
|
|
|
Biotech needs better messaging to voters, BIO 2024 panel says |
|
|
Biotech needs to tell patient stories and strengthen messaging during this election year, according to a panel at yesterday’s BIO 2024 led by Fritz Bittenbender, SVP at Genentech and BIO Board Vice Chair.
Why it matters: Public opinion of biopharma is low, and members of both parties are ready to score political points with further drug price controls, according to a new poll presented to the panel by Neil Newhouse, Partner at Public Opinion Strategies.
Pluses and minuses: Most respondents want “a strong and innovative pharmaceutical industry” to develop new treatments and maintain U.S. leadership, but the public also blames biopharma for high drug prices and for driving inflation in general, the poll found.
The industry needs to find champions in Congress who understand biopharma, said former U.S. Rep. Greg Walden (R-OR), who chaired the House Energy & Commerce Committee.
“I think your better play is to the general public,” said former U.S. Rep. Kathleen Rice (D-NY). “Speak to people in a language they can understand.”
Read more at Bio.News.
Watch our exclusive interview with Genentech's Fritz Bittenbender: |
|
|
|
Biotech can make impossible dreams possible |
|
|
Day 2 of the 2024 BIO International Convention, headlined by award-winning actress, writer, and producer Viola Davis, left us with a poignant takeaway: all the accolades and success in the world can’t keep you from experiencing pain, disease, and loss. And this fact of life drives the biotech industry. Viola Davis discussed what drives her and her experience with her mother, who is currently living out the end of her life in memory care, while Broadway actor Aaron Lazar described his experience being diagnosed with ALS and his conviction that he will someday beat it—read more at Bio.News. |
|
|
|
Brooke Baldwin, TV host, award-winning journalist and bestselling author, in conversation with Viola Davis, award-winning actress, producer, and New York Times best-selling author. |
|
|
House lawmakers call for 340B transparency
|
|
|
Meanwhile in D.C., lawmakers called for greater transparency to reign in abuses of the 340B program in a House Energy & Commerce (E&C) Oversight and Investigations Subcommittee hearing yesterday.
Why it matters: Under the 340B program, hospitals and certain entities that treat large numbers of low-income or uninsured patients can purchase medications at steep discounts.
The problem: Statutory and regulatory changes in 2010 expanded the program, resulting in hospitals in wealthy areas taking advantage of it and profiting through use of unlimited contract pharmacy arrangements, which grew 4,228% from 2010 to 2020.
“Follow the patient”: Rep. Scott Peters (D-CA) asked witnesses about reforms emphasizing “direct patient-care relationships,” which would ensure that 340B benefits are given to specific patients in need. “The right patients need to get this benefit,” he said, urging reform that ensures “the benefit follows the patient.”
What they’re saying: “The 340B Program is distorting markets and behaviors in our health care systems that are increasing costs for all of us,” said E&C Committee Chair Cathy McMorris Rodgers (R-WA) in her opening statement. “We must also take a critical look at the 340B Program and make sure it is achieving its intended mission.” What’s next: Many lawmakers at the hearing urged legislative reform. |
|
|
|
|
|
More than 8 in 10 biotechs rate DEI important area of strategic focus, says new report |
|
|
Charting a Path to Inclusive Excellence for Biotechnology Companies, released yesterday by BIO in partnership with Korn Ferry, highlights industry practices and areas to guide organizations on their journeys.
The key finding: 85% of survey participants rate DEI as an “Important,” “Very Important,” or “Critical” area of strategic focus.
What they’re doing: Most biotechnology companies are collecting information related to employee age (90%) and gender (85%) and incorporating it into HR systems, and over two-thirds (69%) are gathering data on race/ethnicity. 94% indicated no change or a moderate or significant increase in DEI investment over the last two years.
What they’re saying: “The most successful companies are continuing to include DEI into their corporate strategy as a testament to the fact that DEI matters for workplace productivity and retention of the workforce,” said Elizabeth Jeffords, President & CEO of Iolyx Therapeutics and Chair of BIO’s Workforce Diversity, Equity, and Inclusion work group. “When leaders invest in their companies and communities, DEI pays dividends. Findings from this report illustrate that DEI is a crucial aspect of running a successful biotechnology company and it will continue to be a priority for these businesses.”
Why it matters: “Our differences actually lead to better science, better business results, and better outcomes for our patients that we serve,” said Mike Edmondson, U.S. VP of Performance Optimization at Amgen.
|
|
|
|
|
Spotted at BIO: State lawmakers from California, Minnesota, and Massachusetts joined BIO 2024 to discuss how proven state policy measures can help create and attract biotech companies in their states and grow the bioeconomy nationwide. |
|
|
|
|
|
|
|
|
|
|
|
