Biotechnology and the State of the Union Address

Patently BIOtech

The following was published in Politico’s Join the Debate.  Politico asked “What should Obama say in the State of the Union?”

 

Jim Greenwood Former Congressman (R-Pa.), President and CEO, Biotechnology Industry Organization :

 

The president’s State of the Union should, rightly, focus on jobs, particularly the need to create and fill new jobs to compete in an increasing competitive global marketplace. There’s no industry that better exemplifies the promise of job creation than biotechnology.

Today, the U.S. biotechnology sector employs more than 1.3 million workers in high-skill, high-wage jobs. Since 2001, our industry has added nearly 200,000 jobs. This is quite an accomplishment in the midst of a deep recession, and a sign that this industry can be a driver of economic growth. Quite literally we are just what the doctor – and president – has ordered.

Strong patent protection, balanced reimbursement policies, science-based regulations and other pro-innovation public policies will help our industry fulfill our promise. Through targeted policies such as the Therapeutic Discovery Project, which awarded tax credits to small cutting-edge biotech companies to support research and development efforts, the president can help spur continued medical innovation, grow American jobs and position our nation for continued leadership in the global marketplace.

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