iBIO recognizes the significance of the Trump Administration’s recent Executive Order addressing drug pricing in the United States. We particularly welcome the Administration’s acknowledgment of the “pill penalty” issue and examination of PBM roles in healthcare.
“We’re encouraged by the Administration’s focus on fixing the pill penalty and addressing PBM practices, issues we’ve advocated for consistently,” said John Conrad, President and CEO of iBIO. “We look forward to continuing our work with the Administration and Congress to address our industry’s concerns and ensure that efforts to reduce costs strengthen the innovation ecosystem that delivers lifesaving treatments to patients.”
The Executive Order includes directives ranging from Medicare Drug Pricing Negotiation Program changes to accelerating approvals for generics and biosimilars. iBIO will continue advocating for the Orphan Cures Act and other IRA mitigations to support the research ecosystem necessary for developing breakthrough therapies.
Our commitment remains unwavering: to ensure patients have access to innovative therapies while preserving the ecosystem that makes these medical advances possible.
iBIO represents the 94,000 life sciences employees in Illinois who are working every day to develop new cures and treatments for patients who need them.