[February 13, 2018]

BIO Statement on President's Proposed 2019 Budget

Biotechnology Innovation Organization (BIO) President and CEO Jim Greenwood issued the following statement in response to President Trump's FY 2019 budget proposal:

"While we are still reviewing the details of the President's proposed budget, we applaud the President's efforts to lower patients' out of pocket costs for prescription drugs, to provide more funding to combat our nation's opioid epidemic, and to rein in abuses of the 340B drug discount program.

"That said, we have serious concerns that elements of this proposal could fundamentally upset the successful Medicare drug benefit that has been tremendously successful at providing American seniors with access to needed treatments and cures while coming in well under initial CBO estimates. We will continue to review these proposals in the coming days and stand ready to work with the administration and members of both parties in Congress to advance policies related to health, agriculture, and energy that will preserve America's role as the world leader in biotechnology innovation."

About BIO

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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