More than 135 Emerging Biotech Leaders Urge Congress to Reject H.R. 3
“Our continued success depends on maintaining an environment that supports investment in tomorrow’s discoveries.”
Washington, DC: December 5, 2019 – In a letter addressed to House Speaker Nancy Pelosi (D-CA) and House Republican Leader Kevin McCarthy (R-CA), 138 emerging biotech leaders warn that H.R. 3, the Lower Drug Cost Now Act, will “shatter the dreams” of patients and families who stand to benefit from the extraordinary science happening in labs across America. As the biotech leaders write:
“We represent the community of emerging biotechnology companies whose researchers and scientists strive daily to develop innovative life-changing therapies and cures for patients. We take pride that we are providing hope to patients and their families and changing the world through medical breakthroughs. …
“Unfortunately, H.R. 3 is an unprecedented and aggressive government intervention in the U.S. market of drug development and delivery that will limit patient access to these extraordinary advancements in health care.
“This extreme proposal will upend the ecosystem of U.S. biomedical innovation, destroying our ability to attract private investment dollars that allow us to develop new treatments and change the course of healthcare delivery for so many patients.”
For a better approach, policymakers should consider solutions that lower what people pay for life-saving medicines and ensure all patients can get the cures and treatments they need. As the group concludes:
“We strongly urge you to abandon H.R. 3. Further, in order to keep pace with this biomedical revolution and ensure America remains the world leader in innovation, we hope that you will pursue bipartisan, holistic policies that modernize our health care payment system and lower drug costs for patients.”
To learn more about H.R. 3, click here.