[Ip-health] California Healthcare Institute Statement on AB 463 | Business Wire

Andrew S. Goldman andrew.goldman at keionline.org
Wed Apr 22 07:37:33 PDT 2015

Below, see a statement on AB 463 from the California Healthcare Institute,
presenting the pharmaceutical industry's opposition to the bill.


California Healthcare Institute Statement on AB 463
So-called “Pharmaceutical Cost Transparency Act” would stifle innovation,
exclusively targets a sector providing life saving medicines

April 21, 2015 01:15 PM Eastern Daylight Time
SAN DIEGO--(BUSINESS WIRE)--The California Healthcare Institute (CHI), a
non-profit representing more than 275 leading life sciences organizations,
released the following statement by CHI President and CEO Sara Radcliffe
regarding California State Assembly Bill (AB) 463:

“As innovators in the life sciences sector dedicated to the development of
treatments and cures for patients with serious and life-threatening
diseases, we have deep concerns regarding AB 463, the so-called
Pharmaceutical Cost Transparency Act of 2015. This legislation arbitrarily
targets an industry providing historically price-stable medicines and
treatments to patients in need while also delivering real value to our
healthcare system.

“The stated goal of AB 463 is to ‘make pharmaceutical pricing as
transparent as the pricing in other sectors of the healthcare industry,’
yet no other industry is being targeted by such expensive, burdensome, and
contextually meaningless reporting requirements. The message of AB 463 is
that new medicines are part of the problem. We couldn’t disagree more – new
medicines are a central part of the solution to improved healthcare for
all, transforming patient care, averting premature death, and returning a
net economic benefit to society.

“In targeting pharmaceuticals, AB 463 questions the cost, complexity, and
risk of the development of innovative medicines. On average, only one in
every 10,000 new compounds becomes a new drug on the market. Furthermore,
roughly 95 percent of candidates entering clinical trials eventually fail.
In the face of these challenges, life sciences innovators continue to
develop drugs that are making enormous strides in treating major diseases
affecting Americans, including cancers, infectious diseases, heart disease,
and neurological conditions.

“AB 463 would stifle innovation because it requires an extensive, extremely
burdensome and subjective list of reporting provisions that would provide
absolutely no ‘transparency’ to the public or policymakers because it
isolates only certain types of information and it provides no context for
that information.

“We respectfully oppose AB 463 in its current form, and are willing to work
with the bill’s sponsors to make the legislation more supportive of
advancing life science research, investment and innovation."

Click here to view the legislation. [

About CHI-California Healthcare Institute

CHI represents more than 275 leading biotechnology, medical device,
diagnostics and pharmaceutical companies, and public and private academic
biomedical research organizations. CHI’s mission is to advance biomedical
research, investment and innovation through effective advocacy of policies
to improve public health and ensure continued vitality of the life sciences
sector. CHI’s website is www.chi.org. Follow us on Twitter @calhealthcare,
Facebook, LinkedIn and YouTube.

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