Cutting-edge advancements in pharmaceutical medicine improves lives and reshapes the health care industry as we know it every day. Innovation fuels progress, and America’s biopharmaceutical manufacturers are leading the way toward developing solutions to the greatest health care challenges, as they always have. The results are clear: more new medicines are created in the United States than every other country in the world combined. Unfortunately, some states have pursued and continue to pursue legislation to address rising health care costs that would stifle innovation—neither improving care for patients nor reducing health care costs in the process.
Minnesota House File 1246 would threaten intellectual property rights by requiring manufacturers to disclose highly-sensitive proprietary information, creating unnecessarily burdensome requirements that are contrary to the free and competitive market that has allowed biopharmaceuticals to develop new life-saving treatments. Our country far outpaces others in the discovery of new cures because of our emphasis on innovation that is carried out through robust research and development and protected by vigorous intellectual property rights. Degrading those rights degrades the progress they make possible.
The legislation being considered in Minnesota will not lower prescription drug costs nor address the rising cost of health care. Manufacturers support solutions to address rising health care costs, but as the manufacturing sector accounts for more than three-quarters of all private sector R&D in the United States and receives more patents than any other industry, proposed solutions must not come at the cost of crippling the biopharmaceutical sector’s innovation.