PhRMA

At the inaugural PhRMA Forum, we're exploring the state of the industry and the policy roadmap to advance new treatment options and remain at the forefront of health care innovation. In our new Innovation Report, we explore how biopharmaceutical innovation prevents disease, transforms lives and creates a healthier America. Stay tuned for live insights from the event as industry leaders share their perspectives on overcoming our most pressing challenges. https://lnkd.in/eMGBMeiY

“The problem we need to solve is to reduce the out-of-pocket cost facing the patient at the pharmacy counter. And in many ways, the IRA is not doing that. And what it is doing is damaging innovation.” Merck CEO Robert Davis shares his thoughts on the shortcomings of the Inflation Reduction Act.

Patients and health care providers are sounding the alarm on how PBMs and insurers routinely delay or deny care with abusive practices like prior authorization. These tactics can impact how providers practice medicine. New article from Bloomberg News chronicles just how urgently PBM reform is needed. https://lnkd.in/ga3a3qw7

The use of artificial intelligence (AI) as a tool within the biopharmaceutical industry can help improve efficiency, enhance clinical trials and assist in the discovery of new cures and treatments. To ensure this technology can be leveraged by industry to benefit patients, PhRMA submitted comments in response to the White House Office of Science and Technology’s request for information on developing a national AI action plan. Robust intellectual property laws and a flexible, risk-based regulatory framework are integral to preserving and strengthening America’s position as a global leader in biopharmaceutical R&D and AI innovation. PhRMA and its member companies look forward to collaborating with the administration as it develops policies that seek to harness the potential use of AI in the health care sector, focusing on deploying AI tools in a transparent, accountable and responsible manner. Read more about how U.S. policy can promote AI-driven innovation here: https://lnkd.in/eTG6WYM9

By 2050, the number of people living with Alzheimer's is expected to double, reaching 14 million people. Innovation plays a critical role in not only curing diseases, but also relieving the burden they put on our health care system. Hear more from our President and CEO, Stephen Ubl, on innovation’s role in lowering the overall costs of our health care system:

Drug middlemen continue to find new ways to game the system all while increasing their control of what patients pay, where patients get their medicine and ultimately what medicines patients can get. This is another example of blatant abuse of the 340B program. https://lnkd.in/e-f5veZG

The 340B program was designed to help low income and uninsured patients afford the medicines they need. But due to a lack of oversight, many hospitals are exploiting the program for profit by marking up the price of medications, rather than passing the savings on to patients. Learn more about the program at https://lnkd.in/eXfrPFRF

America’s innovative biopharmaceutical industry directly employs more than one million, contributes more than $1.65 trillion in economic output on an annual basis and is one of the most manufacturing- and export-intensive in the country. But foreign governments’ unfair trade practices – including tariffs on medicines, inadequate intellectual property protections and discriminatory pricing policies – threaten the ability of American biopharmaceutical companies and their workers to develop, manufacture and export life-saving treatments and cures. To support and maintain American leadership in the biopharmaceutical sector, the U.S. must advance strong trade policies. Learn more here: https://lnkd.in/eXvg2-y9

At last month's PhRMA Forum, Mark Cuban discussed how PBMs continue to impact our health care system. Without action, these middlemen will continue to employ a range of practices that limit access to care and increase costs for patients. Learn more about how we can hold PBMs accountable. phrma.org/middlemen

The recent measles outbreak in Texas and New Mexico reminds us of the dangers of the disease and the importance of the MMR vaccine. Measles symptoms early on include fever, cough, runny nose and red eyes. A distinctive rash appears roughly 3-5 days after onset of symptoms. Long term complications can include respiratory complications (like bacterial pneumonia) and, in some cases, brain swelling and inflammation (called encephalitis). These complications can ultimately lead to death which we tragically just witnessed in Texas. Prior to the development of the MMR vaccine, complications from the measles virus would affect over 150,000 Americans annually, hospitalizing 48,000 patients each year. Following the development of the MMR vaccine, the U.S. saw a 99% decrease in measles cases. Widespread vaccination protects vulnerable populations, including infants, older adults and those with weakened immune systems. Vaccines also prevent life-altering disabilities associated with many vaccine-preventable diseases. We urge all individuals to ensure they are up to date with recommended vaccines, including MMR, to protect themselves and their loved ones from this deadly disease. https://lnkd.in/ex378Gyj