WASHINGTON--(BUSINESS WIRE)--The Biotechnology Industry Organization (BIO) today applauds Representatives Leonard Lance (R-NJ) and Anna Eshoo (D-CA) for introducing the FDA Safety Over Sequestration Act, or FDA SOS Act. The Act would exempt privately-paid user fees paid to the FDA from any future operation of sequestration.
The following statement may be attributed to BIO President and CEO Jim Greenwood:
“I commend Representatives Lance and Eshoo, as well as all of the co-sponsors of the FDA SOS Act, for their leadership on this important issue. Promptly reviewing innovative new medicines for patients is only possible through an adequately-funded FDA.
“It makes no sense to subject private company-paid FDA user fees to sequestration. These fees constitute a substantial portion of the FDA’s budget, without which the FDA would lack the resources necessary to keep pace with ongoing scientific advances.
“Sequestering user fees does not lower our nation’s deficit as they cannot be used for this purpose. Rather, the only real effect is that the FDA would not be able to access all fees, thus negatively impacting the ability of the FDA to fulfill its mission of ensuring patient access to safe and effective new drugs and biologics.
“We firmly believe that preventing FDA user fees from becoming subject to future periods of sequestration is critical to protecting patients and supporting public health. We call on the Congress to quickly consider and pass this vital legislation.”
For more information on regulatory issues affecting the biotechnology industry, please visit www.bio.org.
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.
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