Each year, biopharmaceutical companies invest nearly $100 billion in the discovery of new treatments and cures. Despite a challenging research and development (R&D) process, consistently high levels of investment in biopharmaceutical innovation help support more than 4 million jobs across the economy and secure America’s position as the global leader in the development of new medicines, with over half of all new medicines coming from the U.S. At the same time, long-standing market-based policies have enabled the U.S. health care system to provide patients with access to more innovative medicines far earlier than other countries.
The United States even far outpaces Europe, which was once home to the bulk of biopharmaceutical investment, but lost its leadership position as a result of government price setting and restrictions on patient access to new medicines. So why are U.S. policymakers on the brink of repeating Europe’s flawed policies by pursuing changes that threaten to disrupt the competitive marketplace, restrict patient access and destroy incentives for biopharmaceutical companies to invest billions toward the development of tomorrow’s lifesaving therapies?
State of Care: The Health Ecosystem, an event with The Atlantic underwritten by PhRMA, will convene thought leaders from industry, academia and government to discuss policy solutions that address the affordability challenges facing patients today without harming America’s continued leadership in both access and innovation.
Genentech CEO Alexander Hardy will join the conversation to discuss common-sense policies the industry has put forth to reduce patient out-of-pocket costs. We’ll also hear from the U.S. Food and Drug Administration’s Amy Abernethy and other leading experts about how we can maintain a robust R&D ecosystem while improving the health care system for patients.
Join us online on Thursday, October 17, from 8:00 a.m. to 10:00 a.m. EDT to hear from this diverse group of health care leaders.
Andrew Powaleny Andrew Powaleny is Director of Public Affairs at PhRMA. Before joining PhRMA in 2015, he worked at the House Energy and Commerce Committee and later as a communications consultant. Andrew came to Washington, D.C. via Connecticut and proudly sings with the Gay Men’s Chorus of Washington, runs with the DC Front Runners and serves on the Alumni Council for The Fund for American Studies. He is also a member of the National Lesbian Gay Journalists Association.