BIO Statement on New List of Medicines Targeted for Government Price Setting

WASHINGTON, D.C. (January 17, 2025) – The Biotechnology Innovation Organization (BIO) today released the following statement after the Biden administration released a list of 15 medicines being selected for government price setting:

“In the final hours of this administration, President Biden is doubling down on a flawed drug pricing scheme that is jeopardizing seniors’ access to important medicines and undermining the development of new cures and treatments.

“Patients with cancer, mental health illnesses, rare diseases and other conditions are experiencing longer, healthier lives because of the work of innovator companies. And yet this law is upending an innovation ecosystem that countless people rely on. Allowing the government to politicize the research and development of new medicines takes away hope from patients and their loved ones. At the same time, it doesn’t address the real reasons why some patients can’t afford their medicines when they go to the pharmacy.

“Patients and biotech researchers are looking to this new Congress and administration to fix the flaws in this law and to rein in practices by insurers and drug middlemen that make medicines less accessible and affordable for patients. We stand ready to help lawmakers deliver these solutions for the American people.”