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| Healthcare IT and Biotechnology News Release |
| News Home :: Healthcare IT and Biotechnology News Releases :: More News Releases on this day |
| Date of Publication: Friday, December 23, 2005 |
BIO Applauds Federal Court Decision to Strike DC Law |
| Jim Greenwood, president and CEO of the Biotechnology Industry Organization (BIO), responses to the decision today by United States District Court Judge Richard J. Leon holding unconstitutional the District of Columbia government's "Prescription Drug Excessive Pricing Act of 2005".
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WASHINGTON -- Jim Greenwood, president and CEO of the Biotechnology Industry Organization (BIO), issued the following statement in response to the decision today by United States District Court Judge Richard J. Leon holding unconstitutional the District of Columbia government's "Prescription Drug Excessive Pricing Act of 2005":
"I am pleased that Judge Leon has ruled on the fundamental constitutional flaws associated with this legislation. By granting BIO's claim for declaratory and injunctive relief, the Court has in its judgment shown that the District of Columbia's law lacked a sound constitutional basis.
"Furthermore, this law would not have had the intended effect of increasing patient access to drugs. Instead, it would contribute to slowing down the development of new therapies for many maladies that affect our loved ones. These delays would have had a profound impact on the biotech industry, where most companies are still in the research stage and are heavily dependent on investment capital.
"BIO stands ready to work with the D.C. government to address any problems accessing innovative therapies."
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