HR3 Would Have Devastating Consequences for Americans
HR3 would implement sweeping changes and upend our system without addressing the broader challenges facing America’s health care system.
We need to take a holistic approach to lowering patient costs while supporting medical innovation and ensuring Americans have access to the best treatments available.
HR3 would impact our progress.
Impact on access to treatment
- In countries with similar policies, patients have access to fewer new medicines and wait longer to get the medicines they need.
- While nearly 90% of new medicines launched globally in the past decade are currently available to patients in the United States, only about half are available to patients in other countries like France and Canada.
- In many foreign countries, the government determines what medicines are worth investing in and which ones are not – regardless of what patients and their doctors think.
- Decisions made by foreign governments about what medicines and therefore, patients, are worth has led to discrimination against the elderly, the chronically ill and people with disabilities. This can have devastating consequences for many.
The first transformative CAR-T cancer therapy was available in the United States 7 months before any other country and is still not available in most other countries, including Canada and Australia.
Impact on American jobs
- HR3 could put nearly a million American jobs and U.S. global bioscience leadership at risk.
- The biopharmaceutical industry supports more than 4 million American jobs and directly employs more than 800,000 workers in the United States in high-wage, STEM-critical roles. These are the kinds of jobs we need to protect America’s role as a driver of the global economy in the 21st century.
- HR3 risks these jobs moving to other countries. China and other countries are aggressively fighting for pharmaceutical sector jobs, and HR3 makes it more likely they could get them.
- The impact of the COVID-19 pandemic on America’s economy cannot be overstated. At a time when our country is trying to get our economy back on track, HR3 puts this recovery at risk.
One analysis by TEConomy Partners projects that its implementation could result in the permanent loss of nearly 1 million U.S. jobs
Impact on medical innovation
- HR3 could slow and jeopardize advances in Alzheimer’s, cancer and dozens of other diseases. Our collaborative research ecosystem system fosters and supports medical innovation and makes it possible for America’s biopharmaceutical industry to work hand-in-hand with government agencies, universities and hospitals to develop life-saving vaccines and treatments.
- America is now the global leader in medical innovation.We have seen in other countries, as they began adopting policies like HR3, that leadership slipped away. America is now the global leader.
- America’s biopharmaceutical companies are on the frontlines of developing treatments and vaccines not just for COVID-19, but also thousands of other debilitating and life-threatening conditions.
HR3 could impact these vital investments and put the development of treatments for conditions like cancer, Alzheimer’s disease, Parkinson’s and other serious diseases at significant risk.
Availability of New Medicines by Therapy Area
Building A Better Health Care System
America’s biopharmaceutical industry is ready to do our part. We are willing to work with all stakeholders to deliver a stronger, more resilient, affordable and equitable health care system for all.
Common sense, patient-centered reforms built on three core goals will help ensure everyone benefits from America’s engine of innovation and gets the care they need and deserve.