Issue lab

Several issues and types of legislation impact our industry. Visit our "Issue Lab" and learn more about Medicare Part B, importation, the value of medicine and more!

The biopharmaceutical industry is on the frontlines of developing treatments and vaccines not just for COVID-19, but for thousands of other debilitating and life-threatening conditions. Our industry provides value and hope, improving the quality of life for millions of patients every day. Unfortunately, some members of Congress are taking our industry’s contributions for granted and are considering a bill, known as HR3, that would allow the federal government to set prices of prescription medicines, arbitrarily determining their value.

Medicare Part B covers physician-administered treatments for chronic conditions such as cancer, lupus, rheumatoid arthritis, and other serious illnesses. By focusing solely on Medicare Part B, the EO could substantially affect access to current and future innovative medicines for these conditions.

More than fifteen years has passed since Congress authorized the creation of Medicare Part D, the government program providing seniors and individuals with disabilities with access to affordable prescription drug coverage. Through market-based competition, Part D allows beneficiaries to choose from a range of private plans that best meet their needs. Further, several surveys show that 85 percent or more of beneficiaries are satisfied with their Part D coverage.

Since 2000, biopharmaceutical companies have brought more than 500 new medicines to patients in the U.S. As a result, we have successfully improved the quality and length of life for Americans confronting the most costly and challenging diseases (cancer, diabetes, etc.).

Biologics are complex medicines manufactured using living cells and tissues. America’s biopharmaceutical research companies are using biological processes testing 907 medicines and vaccines targeting more than 100 diseases. In order to realize the full potential of biologics, it is essential that the U.S. maintain policy and regulatory environments that help foster the discovery and development processes.

Critics argue that the importation of unapproved medicines would help save consumers money. What proponents of importation often miss is the critical issue of safety and how this would impact access to new, innovative treatments.