NewYorkBIO Responds to Most Favored Nation Executive Order

Statement on behalf of Jennifer Hawks Bland, CEO of NewYorkBIO on Most Favored Nation Executive Order:

"New York’s life sciences sector heavily relies on a policy environment that rewards risk-taking and discovery to drive patient-focused breakthroughs. Most Favored Nation (MFN), as referenced in yesterday’s Executive Order, is a deeply flawed proposal that ties U.S. drug reimbursement to prices set by governments in countries that routinely delay or deny access to new therapies— stifling innovation, threatening our national security and competitiveness, and disproportionately harming crucial pre-revenue companies. 

 These policies come at a steep price: fewer treatments reaching the patients who need them most. In fact, numerous studies have shown that patients in countries with price-controlled systems face delayed, limited, or no access to cutting-edge therapies, especially those for rare or complex conditions. 

We must preserve our country’s biopharmaceutical pipeline, maintain the United States’ status as a leader in biomedical innovation, and ensure patients across the country can access cutting-edge therapies when they need them most. We look forward to working with Congress and the Administration to enact policies that support and protect access to care and the strength and future growth of our industry."