Good Day BIO: Indo-Pacific strategy can support biotech – here’s why

Today, we’re watching a hearing on Indo-Pacific strategy and a markup of the Senate’s pandemic preparedness bill. We’re also getting ready for tomorrow’s Research!America awards with a look at their recent data on investment in health research and why it matters. (751 words, 3 minutes, 45 seconds)

New Indo-Pacific strategy can support biotech – here’s why

The U.S. commitment to increase engagement in the Indo-Pacific region offers the possibility of better data sharing, improved cooperation on climate, and more robust medical supply chains, said BIO in a letter to U.S. Commerce Secretary Gina Raimondo and U.S. Trade Representative Ambassador Katherine Tai. 

The context: The White House announced a new Indo-Pacific Strategy in February, committing to “an Indo-Pacific that is free and open, connected, prosperous, secure, and resilient,” per the strategy document. “The United States is an Indo-Pacific power.” 

The goals: The White House seeks to keep the region free, connected internally and externally, prosperous, secure, and resilient to transnational threats—impossible without the cooperation of the other countries in the region.

BIO applauds the strategy and highlights specifics important for biotechnology including:

• The ability to share data with limited restrictions on cross-border data flows. “Biotech innovation is increasingly data-driven and global in nature,” so we need “a sound and consistent legal environment that allows for the rapid international transfer of data.
• “The opportunity to lend support and expertise around climate and sustainability." BIO members are developing cutting-edge solutions and these should be sharable.
• “It is critical that efforts to advance resilient and secure supply chains include medicines and other life sciences products.” 

So, what now? BIO sent the letter Friday, ahead of a Senate Finance Committee hearing today,“The Promise and Challenge of Strategic Trade Engagement in the Indo-Pacific Region.” Watch here at 10 AM ET.

The Department of Commerce and USTR also posted parallel requests for comment on the Indo-Pacific Economic Framework (IPEF). BIO is developing a more detailed response to those requests. The comment window closes on April 11th.

More Agriculture and Environment News:

Reuters: Russia temporarily bans grain exports to ex-Soviet countries
“Prime Minister Mikhail Mishustin on Monday signed an order banning the export of white and raw sugar until Aug. 31, and banning wheat, rye, barley, and maize exports to neighbouring Eurasian Economic Union states until June 30.” 

Health research funding is on the rise, says report

A recent report by Research!America finds investment in health research in the U.S. increased 11% in 2020—here’s what that means for patients.

By the numbers: Investment in health research in the United States shot up by 11% year-on-year in 2020, reaching a total of $245.1 billion, according to Research!America’s report, released earlier this year.

While a lot of that growth is probably due to the pandemic spending, we saw many medical breakthroughs in 2020, including COVID-19 vaccines, tests, and treatments, as well as other disease areas—check out BIO’s FDA Approval Trends Tracker.

The private sector funded the majority of U.S. medical research in 2020: 66% ($161.8 billion), says the report. The federal government funded 25.1% ($61.5 billion), followed by academic and research institutes (6.9%), foundations, associations, and professional societies (1.2%), and state governments (0.9%).

And most Americans want more federal investment in health research, with 85% of U.S. adults supporting the federal government investing in basic research, and 75% favoring doubling the federal expenditure on medical research, per a Research!America 2021 poll.

Why it matters: “Patients are urgently awaiting further advances,” says the report. “Finding the answers they need requires sustained increases in research investment. From supporting science education to funding for research labs to incentivizing innovative partnerships, investment in medical research has profound impacts—preventing disease, producing cures, and improving quality of life.”

Get inspired: Research!America will hold its annual Advocacy Awards tomorrow, March 16, recognizing individuals and organizations whose leadership efforts have advanced our nation’s commitment to medical, health, and scientific research—including the Alliance for Aging Research. BIO President and CEO Dr. Michelle McMurry-Heath is a member of the Research!America Board. Click here to register to watch tomorrow’s ceremony online.

More Health Care News:

The New York Times: Novel malaria treatment for children receives first approval
“The single-dose medication, for treatment of a particular form of malaria, is a new weapon in the war against the deadly illness.”

Wired: The war puts Ukraine's clinical trials—and patients—in jeopardy
“According to the U.S. Food and Drug Administration’s clinical trials database, there are over 250 active trials with research sites in Ukraine. Of those, 117 involve interventions related to cancer. Others are for conditions like multiple sclerosis, schizophrenia, and COVID-19 infection.”

President Biden’s Tuesday: Signing the $1.5 trillion “Consolidated Appropriations Act, 2022,” which dictates spending for the rest of the year. This evening, he’ll deliver remarks (alongside VP Kamala Harris and First Lady Jill Biden) mark the new Equal Pay Day and celebrate Women’s History Month.

What’s Happening on Capitol Hill: Along with the above-mentioned hearing on the Indo-Pacific (10 AM ET), we’re also watching the Senate HELP Committee mark-up of their pandemic preparedness bill. The House Rules Committee will hold a discussion of the CROWN Act, which would prevent discrimination based on hair color and texture.