BIO Applauds Move to Advance Senate Innovation Initiative Legislation
Wednesday, January 20, 2016
Posted by: Angela King
Proposed legislation will accelerate medical innovation
WASHINGTON--(BUSINESS WIRE)--The Biotechnology Innovation Organization (BIO) applauds the release yesterday by Senate Health Committee Chairman Lamar Alexander of a markup schedule for the bipartisan Innovation Initiative to accelerate the pace of medical advancement.
“This move by Chairman Alexander and the Senate Health Committee members will help advance medical innovation and the speed at which new discoveries make it from the lab bench to patient bedside,” said BIO President and CEO Jim Greenwood.
“We are particularly encouraged to learn that the Committee plans to consider the Medical Countermeasures Innovation Act of 2015, which would strengthen our national health security by addressing a number of medical countermeasures contracting and regulatory challenges and incentivizing further research and development (R&D) of these critical products. BIO also strongly supports the Advancing Hope Act of 2015, which would make permanent the Pediatric Rare Disease Priority Review Voucher Program, providing an important incentive for companies developing pediatric rare disease treatments.
“Several other bills scheduled for markup are of particular importance to innovative biopharmaceutical companies. BIO and our members have been engaged throughout this bipartisan process, and we look forward to working with members of the Committee on common sense reforms that will improve the entire ecosystem of innovation which patients rely upon to deliver new treatments. We thank Chairman Alexander, Ranking Member Murray and all members of the Committee for their commitment to this important work.”
BIO is the world's largest trade association representing biotechnology companies, academic institutions, state biotechnology centers and related organizations across the United States and in more than 30 other nations. BIO members are involved in the research and development of innovative healthcare, agricultural, industrial and environmental biotechnology products. BIO also produces the BIO International Convention, the world’s largest gathering of the biotechnology industry, along with industry-leading investor and partnering meetings held around the world. BIOtechNOW is BIO's blog chronicling “innovations transforming our world” and the BIO Newsletter is the organization’s bi-weekly email newsletter. Subscribe to the BIO Newsletter.