"Since 2005, the number of new medicines in development has grown by 40 percent," said John Lechleiter, Ph.D., chairman of PhRMA and chairman, president, and CEO of Eli Lilly and Company. "Our industry has been able to advance scientific discovery – along with the roster of potential new medicines – thanks, in part, to a policy environment that enables medical innovation to flourish. Public policies that value intellectual property, a strong regulatory system, and free market access for patients are critical to maintaining a robust innovation ecosystem and continuing to make progress fighting disease."
"On the eve of the presidential inauguration and in the midst of challenging fiscal pressures, we should renew our focus on the benefits of medical innovation for patient care, the economy and U.S. jobs," continued Castellani. "The President has continually stressed the importance of innovation as a cornerstone to improving health and the U.S. economy, but to achieve these goals, we need patient-centric policies and continued collaboration among the public and private sectors."
The biopharmaceutical research sector currently supports nearly four million jobs in the U.S. and the overall impact of the sector on the domestic economy is $917 billion annually. What's more, over the last decade, PhRMA member companies alone have invested $500 billion in research and development of new therapies for a wide range of diseases such as diabetes, heart disease and HIV/AIDS.
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