Testimony: Public Funding of R&D and Fair Drug Prices Are Essential to Support Innovation in Biotechnology

Kesselheim details how NIH funding has underpinned virtually all major biotechnology innovations and warns that the Trump administration’s proposed 40% NIH budget cut threatens future innovation. He also calls on Congress to eliminate the 4-year “biologic bonus” delay in Medicare drug price negotiation, reverse the expansion of the rare disease carve-out, and take action to address patent thickets to ensure that patients can access breakthrough innovations at fair prices. Watch his testimony.