U.S. biopharmaceutical exports support jobs, innovation
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis recentlypublished annual trade data indicating that U.S. exports of goods exceeded $2 trillion in 2022. According to the report, U.S. exports of pharmaceutical preparations exceeded $90 billion in 2022 — an increase of $7 billion over the previous year. Recent PhRMAcomments to the U.S. International Trade Commission highlight that U.S. biopharmaceutical exports support high-wage manufacturing jobs, innovation and investment across the U.S. economy — demonstrating the need for strong U.S. trade policies that expand market access, protect American intellectu...
Source: The Catalyst - March 20, 2023 Category: Pharmaceuticals Authors: Brian Picone Tags: Economic Impact Intellectual Property Trade Source Type: news
What we ’ve learned from three years of fighting COVID-19
Three years ago, amidst an unprecedented public health crisis, biopharmaceutical industrymade a commitment to fight COVID-19. Leveraging decades of research and investments in emerging technologies and scientific expertise, we dedicated ourselves to finding medical solutions to prevent, diagnose and treat those impacted by the coronavirus. (Source: The Catalyst)
Source: The Catalyst - March 20, 2023 Category: Pharmaceuticals Tags: Research and Development PhRMA Member Company Vaccines Coronavirus Source Type: news
Will the administration capitalize on the Indo-Pacific Economic Framework to drive medical innovation?
In December 2022, the United States launched negotiations for the Indo-Pacific Economic Framework (IPEF) with thirteen countries throughout the Indo-Pacific region, including Australia, India, Indonesia, Japan and Korea. PhRMA hasencouraged the Biden Administration to negotiate a comprehensive and ambitious agreement, including in April 2022 public comments submitted to theU.S. Trade Representative (USTR) and theU.S. Department of Commerce (DOC). Such an agreement would include strong intellectual property (IP) protections and predictable and transparent market access, regulatory and other provisions that advance scientifi...
Source: The Catalyst - March 13, 2023 Category: Pharmaceuticals Authors: Douglas Petersen Tags: Intellectual Property Trade Source Type: news
Insurer and PBM tactics are shifting higher costs to patients with chronic and complex conditions
Health plans are increasingly using deductibles and coinsurance to shift more of the cost of care to chronically ill patients taking brand medicines. As data from IQVIA show, this alarming trend is especially burdensome for patients with cancer, who pay nearly 10X more on average per year for their medicines when they face deductibles and coinsurance versus patients with only fixed copays. (Source: The Catalyst)
Source: The Catalyst - March 2, 2023 Category: Pharmaceuticals Authors: Priscilla VanderVeer Tags: Health Insurance Pharmacy Benefit Managers Source Type: news
Why Congress should prioritize fixing the 340B program
Nearly all Americans nationwideagree: Lowering out-of-pocket costs for health care should be a top priority for policymakers. Luckily, there are commonsense policies Congress could implement to meaningfully address the cost burdens Americans face. These include things like making sure patients aren ’t paying more for their medicines than their health insurance company or requiring first-dollar coverage, so insurance companies cover the cost of certain lifesaving medicines from day one of the plan year. These are concrete steps, but they aren’t the only ones Congress could take. Take 340B. It would be a mistake if ...
Source: The Catalyst - March 2, 2023 Category: Pharmaceuticals Tags: 340B Hospitals Source Type: news
FDA-USPTO collaboration initiatives should be evidence-based, prioritize innovation
The United States Patent and Trademark Office (USPTO) and the U.S. Food and Drug Administration (FDA) are in the process of considering new collaboration initiatives aimed at biopharmaceutical patents. As outlined in a recentpublic statement andwritten comments, PhRMA appreciates the agencies seeking public participation on important innovation policy issues and we strongly support the agencies stated commitment to “ensuring our innovation system strikes the appropriate balance—encouraging meaningful innovation in drug development while supporting a competitive marketplace that can promote greater access to medicines f...
Source: The Catalyst - March 1, 2023 Category: Pharmaceuticals Authors: Megan Van Etten Source Type: news
Celebrating 40 years of the Orphan Drug Act on Rare Disease Day
For over a decade, Rare Disease Day has been celebrated on February 28 to raise awareness and generate change for the more than 30 million patients in the U.S. living with a rare disease. This year ’s Rare Disease Day is particularly special because this year also marks the 40th anniversary of the Orphan Drug Act (ODA), allowing us to celebrate all the progress that ’s come to patients because of it. (Source: The Catalyst)
Source: The Catalyst - February 28, 2023 Category: Pharmaceuticals Authors: Abigail Lore Tags: Research and Development Rare Diseases Government Price Setting Source Type: news
PhRMA's Change Agents bring awareness and value of HBCUs and their impact to STEM
Historically Black Colleges and Universities ( “HBCUs”), federally designated as any college or university established prior to 1964 with the principal mission of educating Black Americans, play a pivotal role in the education of people of color and in our society. In 1837, Cheyney University of Pennsylvania made history by becoming the firs t Historically Black College and University (HBCU) in the United States. Since then, 98 more HBCUs have been established across 19 states, the District of Columbia, and the U.S. Virgin Islands. Although HBCUs make up only three percent of the country’s colleges and universities, ...
Source: The Catalyst - February 28, 2023 Category: Pharmaceuticals Authors: Kristin Williams Tags: Equity Source Type: news
PhRMA submits comments to USPTO highlighting important role of patent system in medicine development
PhRMA responded to the U.S. Patent and Trademark Office ’s (USPTO) request for comments regarding USPTO initiatives to ensure the robustness and reliability of patent rights. (Source: The Catalyst)
Source: The Catalyst - February 23, 2023 Category: Pharmaceuticals Authors: Megan Van Etten Tags: Research and Development Patents Intellectual Property Source Type: news
Holding pharmacy benefit managers accountable
State legislative sessions across the country are in full swing, and many state officials have made lowering the cost of medicine for patients a top priority. If policymakers are serious about addressing high out-of-pocket costs for patients, they should start by taking steps to finally hold pharmacy benefit managers (PBMs) accountable. (Source: The Catalyst)
Source: The Catalyst - February 23, 2023 Category: Pharmaceuticals Authors: Reid Porter Tags: Health Insurance Out-of-Pocket Costs Pharmacy Benefit Managers Policy Solutions Source Type: news
Stopping pharmacy benefit managers from “gaming the system”
People around the country say they are paying too much for their prescription medicines. State policymakers could help address this problem now. Doing so starts with stopping pharmacy benefit managers (PBMs) from taking advantage of the health system and patients. (Source: The Catalyst)
Source: The Catalyst - February 22, 2023 Category: Pharmaceuticals Authors: Reid Porter Tags: Health Insurance Out-of-Pocket Costs Pharmacy Benefit Managers Policy Solutions Source Type: news
What they are saying: Nonprofit hospitals are gaming the system at the expense of patients
There have been some alarming stories uncovered by the media on ways nonprofit hospitals — many of which participate inthe 340B drug pricing program— are taking advantage of the system and their tax-exempt status to boost their bottom lines, at the expense of patients. Here are some recent articles exposing this issue: (Source: The Catalyst)
Source: The Catalyst - February 21, 2023 Category: Pharmaceuticals Tags: 340B Source Type: news
Senate hearing to examine bipartisan reforms to rein in middlemen
Did you know that insurance companies use middlemen — known as pharmacy benefit managers (PBMs) — to decide what medicines people can get and what people pay out of pocket for those medicines? (Source: The Catalyst)
Source: The Catalyst - February 16, 2023 Category: Pharmaceuticals Authors: Brian Newell Tags: Health Insurance Out-of-Pocket Costs Pharmacy Benefit Managers Source Type: news
State policymakers can protect American innovation and help Americans live longer, healthier lives
For the second year in a row, life expectancy is on the decline in America. The leading causes of death across the United States include cancer and chronic diseases. Even when patients are able to manage these conditions — e.g., overall cancer survivability hasincreased 33% since 1991— their quality of life may still be diminished. (Source: The Catalyst)
Source: The Catalyst - February 9, 2023 Category: Pharmaceuticals Authors: Mark Reisenauer and Stephen J. Ubl Tags: Medicines in Development Research and Development Cancer Source Type: news
Recognizing National Glaucoma Awareness Month
January was National Glaucoma Awareness Month and provided us an opportunity to spread the word and honor the millions of patients around the world who are impacted by this debilitating disease. Glaucoma refers to a group of eye diseases that can cause vision loss or blindness due to damage of the optic nerve. It is one of the leading causes of irreversible blindness in the United States. High intraocular pressure (IOP) is a common risk factor for glaucoma, which over time causes stress on the optic nerve and can lead to gradual vision loss. While there currently is no available cure, the condition can be treated and ...
Source: The Catalyst - February 1, 2023 Category: Pharmaceuticals Authors: Matthew Norawong Tags: Medicines in Development Patients R & D Focus Source Type: news
