Washington, D.C. (February 13, 2018) — Biotechnology Innovation Organization (BIO) President and CEO Jim Greenwood issued the following statement in response to President Trump’s FY 2019 budget proposal:
“While we are still reviewing the details of the President’s proposed budget, we applaud the President’s efforts to lower patients’ out of pocket costs for prescription drugs, to provide more funding to combat our nation’s opioid epidemic, and to rein in abuses of the 340B drug discount program.
“That said, we have serious concerns that elements of this proposal could fundamentally upset the successful Medicare drug benefit that has been tremendously successful at providing American seniors with access to needed treatments and cures while coming in well under initial CBO estimates. We will continue to review these proposals in the coming days and stand ready to work with the administration and members of both parties in Congress to advance policies related to health, agriculture, and energy that will preserve America’s role as the world leader in biotechnology innovation.”
About BIO
BIO is the premier biotechnology advocacy organization representing biotech companies, industry leaders, and state biotech associations in the United States and more than 35 countries around the globe. BIO members range from biotech start-ups to some of the world’s largest biopharmaceutical companies – all united by the same goal: to develop medical and scientific breakthroughs that prevent and fight disease, restore health, and improve patients’ lives. BIO also organizes the BIO International Convention and a series of annual conferences that drive partnerships, investment, and progress within the sector. Learn more at bio.org.