Biotechnology Innovation Organization

Of all of the groups upset at the PBM business model of extracting tribute from every player in the supply chain, no one may be madder than pharmacists, who wrote a clear-headed letter to PBM leaders last week detailing how PBM contracting approaches threaten the very concept of community pharmacy. What’s notable is not only the pharmacist objections but how little PBMs have done to address those concerns, beyond vague assurances that PBMs are not “countering or attacking” pharmacies.

Thank you to everyone who joined us at BIO's first Agriculture & Environment Summit. It was two days of important discussions about ways to advance our bioeconomy and support agricultural innovation and climate technology. We hope you will join us next year! #BIOSummit

BIO PATIENT PERSPECTIVES… We instituted here at BIO now regular (1-2 per month) all team Town Hall meetings where we feature a discussion with an individual, a family and/or an organization that is core to our mission to “Heal, Feed and Fuel” the world. Today we were blessed to have 16 year old Ella Murray and her family with us. Ella lives with Epidermolysis Bullosa (“EB”). A rare, devastating genetic skin disease. Imagine living with third degree burns over your entire body for a lifetime. Ella’s strength, character and wit in the face of such unimaginable adversity is remarkable to witness. Her journey with her family gives us even greater purpose to our mission in biotechnology. Watch this video from a story that the Washington Post did a few years back. Thank you Murray family for being with us today. Ella, you are beautiful. #courage #strength #hope https://lnkd.in/gcjnuWRJ

Earlier this month, Harvard researchers pushed out a paper in JAMA that suggested that the FDA was allowing cancer drugs without benefits to remain on the market. But the analysis lacked nuance about both the underlying data and the FDA’s regulatory approach. Fortunately, BioCentury Inc.’s Steve Usdin took the researchers to task in a wonderful piece that makes clear that the original JAMA publication was “intellectual malpractice,” “clickbait,” and “irresponsible.” https://lnkd.in/eiXNQM5z

With its potential to expand the horizons of what’s possible for patients, CRISPR is the new darling of biotech. In this episode we talk with two companies working together on the next generation of CRISPR: editing cells within the body. 🧬🔬 🎧 Listen now: https://lnkd.in/exVpd_jG

This #EarthDay, join us in reflecting on our collective responsibility to protect the Earth and all its inhabitants. From developing biodegradable materials to pioneering eco-friendly agricultural practices, biotechnology is driving innovation that not only benefits human health but also safeguards our planet for future generations. Happy #EarthDay from all of us at BIO. 🌎🌱🔬

In the latest #IamBIO episode, hear how companies like United Therapeutics Corporation are addressing climate change through innovation—from carbon-neutral facilities to agricultural innovations that reduce greenhouse gas emissions. 🎧Listen now: https://lnkd.in/efZyqD8d

This Health Affairs piece – from a group of authors that includes former CMS head Mark McClellan and SSR Health pricing expert Richard Evans – is a reminder that the final price set by CMS is only a part of the story. Perhaps the most important point in the piece is a reminder that payers will have a financial incentive to push patients away from price-controlled medicines to more profitable products where the rebates – and profits – are greater. That’s an area where the authors point out that CMS “has not yet provided guidance on how it will [assess formulary placement], nor on the consequences for plans’ undesirable behavior.” It’s a reminder that implementation of the IRA will require vigilance to make sure that PBMs don’t try to turn the law into another avenue for steering savings away from patients. https://lnkd.in/eJtRAcWk

Nominations are open for BIO's Agriculture & Environment awards to recognize individuals who have made significant contributions to advance the bioeconomy and biotech innovation. Please nominate those who are making today's biotech breakthroughs. The deadline to submit nominations is May 3. Submit here: https://lnkd.in/emhe9vpY

BIO is conducting a survey to improve communication between biotech firms and the FDA. This initiative aims to streamline the drug approval process, ensuring transparency and efficiency. Learn more: https://lnkd.in/eFj2AgYj