WASHINGTON, D.C. (June 29, 2020) – Pharmaceutical Research and Manufacturers of America (PhRMA) president and CEO Stephen J. Ubl issued the following statement:
“Ensuring people have affordable access to the care they need is crucial, especially during a pandemic. Health insurance must work like insurance and provide people with the reliable and affordable health care coverage they need. However, coverage without a treatment or vaccine for COVID-19 will do nothing to help us return to normal. It is clearer now more than ever before how important continued biopharmaceutical research is and the significant time and resources that go into finding each new potential treatment, vaccine or cure for any disease. Science and innovation are the keys to improving public health and economic growth. Undercutting biopharmaceutical innovators during a global pandemic is out of touch with what the world needs right now and the crucial role of biopharmaceutical research now and in the future.”
The Pharmaceutical Research and Manufacturers of America (PhRMA) represents the country’s leading innovative biopharmaceutical research companies, which are devoted to discovering and developing medicines that enable patients to live longer, healthier and more productive lives. Since 2000, PhRMA member companies have invested more than $900 billion in the search for new treatments and cures, including an estimated $79.6 billion in 2018 alone.
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