PhRMA president calls Obama policy 'wrongheaded' - Washington Times

PhRMA president calls Obama policy 'wrongheaded' - Washington Times


The chief spokesman for pharmaceutical manufacturers says President Obama has stuck two thorns in the industry’s side at a time marked by uncertainty as lawmakers contemplate cutting health care programs and battles over the new health care law wind their way through the courts.

When the president presented his deficit-cutting plan last week, he included measures that will drive up drug prices and squash investment in companies that develop drugs and medical devices, said John Castellani, president of the Pharmaceutical Research and Manufacturers of America (PhRMA).

The industry is especially fuming over Mr. Obama’s push to reduce the length of time a company can produce biologic drugs exclusively by paring the patent protection time frame from 12 years down to seven.

“It’s absolutely wrongheaded,” Mr. Castellani said. “It drives the opposite effect that the president stated he wants to reach.”