New Drug Pricing Bill from House Democrat Leadership Threatens to Short-Circuit California Biomedical Innovation

California Life Sciences Association (CLSA), the trade association representing California's life sciences sector, issued the following statement in response to House Speaker Nancy Pelosi's drug pricing proposal unveiled today. This statement can be attributed to Mike Guerra, President & CEO, CLSA:

"California Life Sciences Association is deeply concerned about the major provisions of Speaker Pelosi's proposal to import foreign price controls by tying U.S. list prices to those set abroad. This flawed proposal will unnecessarily jeopardize patient care by arbitrarily limiting access to necessary medications, and short-circuit life-saving innovation occurring in California's world-leading biomedical sector. On behalf of California's life sciences innovators, a sector with more than 3,600 firms employing over 958,000 people, CLSA will continue engaging with Congressional leadership and our bipartisan California Congressional Delegation to advocate for alternative solutions that will demonstrably lower out-of-pocket costs for America's patients, while protecting access to needed medicines and preserving incentives for future investment in new therapies."

Click here to add your name to ask Congress to cap out-of-pocket prescription drug costs in Medicare Part D to ensure access, innovation, and affordability for America's patients. #CapCostsNotCare.

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About California Life Sciences Association (CLSA)

California Life Sciences Association (CLSA) is the state's largest and most influential life sciences advocacy and business leadership organization. With offices in Sacramento, San Diego, South San Francisco, Los Angeles and Washington DC, CLSA works closely with industry, government, academia and others to shape public policy, improve access to innovative technologies and grow California's life sciences economy. CLSA serves biotechnology, pharmaceutical, medical device and diagnostics companies, research universities and institutes, investors and service providers throughout the Golden State. CLSA was founded in 2015 when the Bay Area Bioscience Association (BayBio) and the California Healthcare Institute (CHI) merged. Visit CLSA at www.califesciences.org, and follow us on Twitter @CALifeSciences, Facebook, Instagram, LinkedIn andYouTube.