Good Day BIO: World Water Week and new drug price data

During a summer that brought both unprecedented drought and floods, it’s World Water Week—a global initiative to bring attention to the water-related challenges we face. Let’s dive into a few solutions being developed by BIO members.

Freshwater, by the numbers: 2.5% of water on Earth is freshwater—and 69% of global freshwater withdrawals are used for agriculture, says Bayer CropScience. 

Demand for freshwater is growing—and expected to increase at least 55% by 2050. But water shortages affect more than 40% of the population (and rising), explains Cargill.

Biotech is finding ways to help us use less water in agriculture, reducing the impact on our ecosystems as we work to feed a growing population. Examples from a few BIO members include:

• Developing seeds that are more resilient in the face of floods and droughts. Bayer’s “Arize hybrid rice seeds are specially designed to survive in flash flood conditions, producing consistent yields even under unfavorable weather conditions.”
• Breeding fish that require less water to live healthily. AquaBounty’s Atlantic salmon are raised in recirculating aquaculture systems, where more than 95% of the water can be filtered and reused continuously.   
• Creating digital tools to help growers track water usage and provide guidance on where and when to irrigate fields. Using Bayer’s smart irrigation systems, farmers were able to use 60% less water compared to traditional methods and reduce the amount of fertilizer.
• Reducing water use across operations and supply chains.Cargill is restoring 600 billion liters of water and reducing pollutants in priority watersheds, as well as improving access to safe drinking water. They’ll work with farmers and supply chain partners to improve soil health, water resiliency, and quality (which, in turn, reduces emissions and provides an economic boost for farmers.)

Learn more about World Water Week and how you can get involved.

Learn about more amazing biotech solutions for climate.

We’re gearing up for another fight on drug price controls—but once again, new data shows that when it comes to health care spending, prescription drug prices aren’t the biggest problem.

The news: The latest Altarum Health Sector Economic Indicators briefs show that prescription drug prices remain the sole major category with decreasing prices in July 2021. 

The key findings: Prescription drug prices fell by -2.5% compared to a year prior, extending the now 10-month streak of negative growth. At the same time, prescription drug spending showed the greatest growth since January 2020, at 4.0%.

Compare that to….physician services and hospital prices, which grew 3.2% and 2.9% year-over-year, respectively.  

The context: President Biden recently called for prescription drug price controls—and we’re gearing up for a tough fight on this issue in the coming weeks and months. But, clearly, drug prices aren’t the biggest problem when it comes to rising health care costs—and price controls will only make it more difficult for small, innovative biotech companies to attract the investment they need to discover future vaccines and treatments. 

The bottom line: Keep these numbers in mind when you hear the rhetoric this fall about the high cost of prescription drugs.

More Health Care News: 

Boston Globe: After a big year, Moderna becomes the third largest biotech employer based in Mass.
“Overall, Moderna is the state’s seventh-largest employer in the state’s booming biopharma hub.”

President Biden’s Thursday: Meeting with his national security team on Afghanistan. Then, he will have a bilateral meeting in the Oval Office with Israeli Prime Minister Naftali Bennett, who is on his first state visit overseas since taking office. President Biden will then meet virtually with bipartisan Governors from across the country who have volunteered to temporarily house or help resettle vulnerable Afghans. 

What’s Happening on Capitol Hill: The House is back in session this week and narrowly passed the $3.5 trillion budget in a party line vote, ending a standoff between centrist Democrats and House leadership, per CNBC. Democrats plan to pass the budget through the reconciliation process, which would not require Republican support in the Senate as long as all 50 Democratic senators vote in favor it. It’s worth noting that Sen. Kyrsten Sinema (D-AZ) has stated that she would not support $3.5 trillion in spending and Sen. Joe Manchin (D-WV) has “serious concerns” about a budget that size, according to Roll Call. Now a Sept. 27 deadline has been set to vote on the $1 trillion bipartisan infrastructure deal that was passed in the Senate. The Senate still stands adjourned until Sept. 13.