WASHINGTON, SAN FRANCISCO & SAN DIEGO--(BUSINESS WIRE)--California Life Sciences Association (CLSA), the trade association representing California’s life sciences sector, along with 43 other state and regional life sciences organizations, sent a letter to Congress, urging lawmakers to reject foreign price controls and international reference pricing proposals as a method to lower drug costs, which threaten to crush life-saving biomedical innovation for patients.
The multi-state life sciences association letter recently sent to House and Senate Leadership expresses strong concerns with recent legislative proposals that threaten to undermine America’s global leadership in biomedical innovation by introducing international reference pricing or foreign price controls.
Specifically, the letter outlines why international reference pricing – such as the policy proposed in Speaker Nancy Pelosi’s (D-San Francisco) drug pricing bill, H.R. 3, the Lower Drug Costs Now Act of 2019 – is concerning for states and regions across the country with established life sciences communities (like California), and emerging biomedical innovation ecosystems working to attract capital investment and support entrepreneurship to build the companies and therapies of the future.
Most importantly, the letter argues that the results of importing foreign price controls will be devastating for future investment in innovation and will ultimately penalize patients hoping for new medicines to treat serious, life-threatening diseases.
Key excerpts of the letter include:
“We are deeply concerned by proposals by some in Congress to introduce price controls, particularly foreign reference pricing, into government and private healthcare programs.”
“These proposals are concerning for states and regions of the country with established life sciences communities, as well as for emerging biomedical innovation ecosystems working to attract capital investment and support entrepreneurship to build the companies and therapies of the future. Most importantly, they would be devastating for those patients hoping for medicines to treat serious, life-threatening diseases.”
“If price controls as proposed are implemented it may reduce drug pricing in the short term, but it will certainly result in significantly reduced innovation and severely restricted access to life-saving medicines.”
“On behalf of the US’s innovative life sciences community, we urge you to reject any efforts to undermine America’s global leadership in biomedical innovation through international reference pricing or other price controls. Patients deserve access to and choice of the life-saving therapies of today and tomorrow.”
CLSA is also launching a corresponding print and digital public relations campaign this week to amplify the letter with key audiences and urge Congress to reject short-sighted foreign price controls as a method to lower drug costs. Learn more at www.califesciences.org/StopPriceControls.
Read the full letter cosigned by 44 state and regional life sciences associations from 41 states (including one territory), that was sent to Congress on Oct. 17.
- Learn More about the California life sciences sector
- View CLSA’s Legislative Action Center
- Watch CLSA’s Faces of California Biomedical Innovation Web Series
- View Upcoming CLSA events
- Meet the CLSA Board of Directors
About California Life Sciences Association (CLSA)
California Life Sciences Association (CLSA) is the state’s largest and most influential life sciences advocacy and business leadership organization. With offices in Sacramento, San Diego, South San Francisco, Los Angeles and Washington DC, CLSA works closely with industry, government, academia and others to shape public policy, improve access to innovative technologies and grow California’s life sciences economy. CLSA serves biotechnology, pharmaceutical, medical device and diagnostics companies, research universities and institutes, investors and service providers throughout the Golden State. CLSA was founded in 2015 when the Bay Area Bioscience Association (BayBio) and the California Healthcare Institute (CHI) merged. Visit CLSA at www.califesciences.org, and follow us on Twitter @CALifeSciences, Facebook, Instagram, LinkedIn and YouTube.