But New Legislative Proposals Endanger Progress
WASHINGTON–(BUSINESS WIRE)–The following statement may be attributed to BIO President & CEO James
“This year’s International IP Index from The Global IP Center reflects
the important progress being made at the U.S. Patent & Trademark Office
under the leadership of Director Andrei Iancu.
“While we are pleased to see that the United States improved its ranking
from last year’s disgraceful mark, much work remains to be done to
reclaim our global leadership. Regrettably, recent court decisions and
legislative proposals continue to weaken patent rights and undermine
America’s biotechnology innovation ecosystem.
“Bad policy proposals, such as the Medicare
Negotiation and Competitive Licensing Act introduced today by
Congressman Lloyd Doggett and Senator Sherrod Brown, which would will
allow government to steal intellectual property from innovators, is a
significant threat to any progress that has been made in the last year.
“We commend the progress made under Director Iancu’s leadership, but
more reforms are needed to reduce abusive practices and enhance the
strong incentives needed to sustain our nation’s global leadership in
biotechnology innovation and the creation of high-wage, high-value jobs
throughout our country.
“Specifically, BIO supports the STRONGER
Patents Act and the Hatch-Waxman
Integrity Act to curb abusive patent practices, while
strengthening the ability of patent owners to defend their inventions
and businesses against infringement.
“BIO remains ready and willing to work with Congress and the PTO to
better support the inventors, the investors, and the people waiting for
new innovations to improve their lives and their environment.”
BIO is the world’s largest trade association representing biotechnology
companies, academic institutions, state biotechnology centers and
related organizations across the United States and in more than 30 other
nations. BIO members are involved in the research and development of
innovative healthcare, agricultural, industrial and environmental
biotechnology products. BIO also produces the BIO
International Convention, the world’s largest gathering of the
biotechnology industry, along with industry-leading investor and
partnering meetings held around the world. BIOtechNOW
is BIO’s blog chronicling “innovations transforming our world” and the
BIO Newsletter is the organization’s bi-weekly email newsletter. Subscribe
to the BIO Newsletter.