America’s biopharmaceutical leadership is a result of a robust medical innovation ecosystem driven by several factors: a free-market economy that rewards innovation, strong intellectual property protections, public sector investments in education and basic sciences, and a reliable rule of law. However, as PhRMA President and CEO Steven J. Ubl notes in Real Clear Health, other countries put up trade-related barriers that weaken U.S. competitors and benefit their own domestic industries.
These barriers have demonstrable impact: they limit the U.S.’ ability to invest in research and development here at home, thereby threatening U.S. jobs and development of new medicines for the world’s patients. That is why, as Ubl explains, it is critical the United States negotiates trade deals that are in the national interest, and that those deals are actively monitored and enforced to ensure other nations adhere to agreed-upon terms.
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