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Rep. Hank Johnson discussed the impact of Georgia’s biosciences sector, and CPAC supports FTC action against PBMs. We have details, plus more news on bird flu, USDA biofuel grants, and more. Don’t forget to vote. (678 words, 3 minutes, 23 seconds) |
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Rep. Hank Johnson and BIO tour biotech training facility in Atlanta |
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Rep. Hank Johnson (D-GA) discussed the economic impact of Georgia’s bioscience sector during a tour of the Georgia Bioscience Training Center with representatives from BIO and Georgia Bio, as well as other members of the Atlanta biotech community.
Why it matters: Georgia’s biosciences sector employs more than 38,000 Georgians across more than 3,000 establishments. Rep. Johnson supports this industry as a key leader on legislation affecting patent laws that are essential to biotech.
What they’re saying: “As the ranking Democrat on the Subcommittee on Courts, Intellectual Property, and the Internet, I look forward to working with my colleagues to ensure that our IP laws promote success for our startups, and access to cutting-edge treatments for patients,” Rep. Johnson said. “I am proud to represent the metro Atlanta area, which is a global leader in biotechnology innovation and manufacturing. It’s an important source of good jobs for our community and revolutionary cures for the world.”
Read more on Bio.News. |
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Pictured, from left: Scott McMurray, Deputy Commissioner, Georgia Quick Start; Dave Penake, CEO, Saol Therapeutics; Margie Battle, Manager, Georgia BioScience Training Center; Megan Heaphy, Director, Biotech Teacher Training Initiative, Georgia Bio; Rep. Hank Johnson (D-GA); Calvin Johnson; Scott Frank, President & CEO, AT&T Intellectual Property; Melissa Carter, Director, Policy & Public Affairs, Georgia Bio; David Lachmann, BIO’s federal team; Steve Damon Chief Executive Officer, Micro Biomedical; Maria Thacker-Goethe, President & CEO, Georgia Bio. (Photo courtesy of Georgia Bio.) |
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CPAC supports FTC action against pharmacy benefit managers |
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Despite frequent criticism of the Federal Trade Commission (FTC), the Conservative Political Action Conference (CPAC) lauded FTC efforts to rein in pharmacy benefit managers (PBMs).
FTC’s investigation yielded an interim report finding PBMs abuse their market power for profit while increasing medical costs and harming patient access.
CPAC’s view: “The FTC’s investigation and subsequent lawsuit regarding pharmacy benefit manager (PBM) practices would help restore a degree of desperately needed competition to our healthcare system,” said an Oct. 18 article in RealClearPolicy by CPAC’s Andrew Langer and David Safavian.
Frequent FTC critics: Langer and Safavian maintained that many times over the last three years, FTC “Chair Lina Khan has engaged in fiercely ideological efforts that harm consumers more than they help.”
But not in this instance: “By all appearances, the FTC investigation was thorough and not ideologically driven. Its report concluded that vertical integration and market concentration have allowed PBMs to increase drug costs,” they wrote.
“PBMs have become a key part of the healthcare oligopoly” due to recent legislation, including the Inflation Reduction Act (IRA), the CPAC authors wrote.
Common ground on PBMs: “We can all agree that transparency and competition improve services and lower prices. Hopefully, the FTC has taken the first step in doing just that,” said Langer and Safavian.
Read more on Bio.News. |
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BIO is announcing a new series produced for us by BBC StoryWorks and launching in 2025. In this new iteration, the series will build on the storytelling expertise developed in the previous series to explore biotechnology in greater depth, combined with a campaign poised to reach an even bigger audience and further generate evidence-based understanding of the tangible impact of cutting-edge science.
Click to learn more and submit your story. |
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What Else to Read This Week
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Bird flu detected in a pig for the first time in the U.S. Found on a backyard farm in Oregon, the discovery is concerning because pigs can be infected with both bird and human viruses, allowing genes to swap—making pigs one of the few animals in which an avian virus can become more like a human virus, The Washington Post reports. USDA and CDC said the current risk to the public remains low.
USDA announces $239 million in biofuel grants. The grants include $39 million to U.S. business owners to increase the availability of domestic biofuels in 18 states, as well as $200 million through the new Biobased Market Access and Development Grants made possible by Commodity Credit Corporation (CCC) funds. Read more from the USDA.
The Food and Drug Administration (FDA) announced progress toward Rare Disease Hub. Amy Comstock Rick has been named Director of Strategic Coalitions for the Hub, and FDA held a public meeting involving patient advocates, academic researchers, the biotech industry, and others to discuss the Hub’s priorities, writes Patrizia Cavazzoni, M.D., director of FDA’s Center for Drug Evaluation and Research (CDER) and Peter Marks, M.D., Ph.D., Director, Center for Biologics Evaluation and Research. The HUB is intended to connect and coordinate CDER and FDA’s Center for Biologics Evaluation and Research (CBER) to enable collaboration that promotes rare-disease innovation.
How do we turn early-stage science into products that save millions of lives? The Bayh-Dole Coalition recently recognized five innovators who have done just that with help from the Bayh-Dole Act. Watch the award ceremony highlight reel to learn more about them and the role the Bayh-Dole Act plays in securing our economic growth and public well-being. |
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Beltway Report: What's Ahead in Washington
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It’s a big day tomorrow. This will also be the last week of recess for Congress. When they return next week, lawmakers will have a lot of important business to address before the year’s end. |
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