09/16/2024 | News release | Distributed by Public on 09/16/2024 07:21
A new study, conducted by researchers at Johnson & Johnson, Harvard University and Analysis Group, highlights the magnitude of biopharmaceutical investment in research and development (R&D) and its profound impact on advancing medicines for patients - both in the U.S. and abroad. These findings underscore the critical role biopharmaceutical companies play in driving the transformational innovations that change how we fight and prevent disease to help solve the biggest health care challenges the U.S. faces.
Here are key takeaways:
The industry-driven R&D contributions outlined in the report fuel continued innovation and medical breakthroughs for patients, underscoring why we need commonsense policies. These policies include robust intellectual property protections, science-based regulatory agencies and payment and reimbursement that rewards innovation and patient-centric solutions.
U.S. biopharmaceutical companies are at the forefront of developing transformational medicines and vaccines that change patients' lives, lower health system costs and contribute to a healthier society. Just take what transformational innovation has done for hepatitis (HCV) treatment savings: since curative medications for HCV were approved in 2013, Medicaid has saved an estimated $15 billion in avoided health care costs - and cumulative savings are expected to reach $43 billion by 2026. Meanwhile, childhood vaccines - another cost-effective intervention for fighting disease - have prevented over one million early deaths and can prevent 18 dangerous or deadly diseases.
We need to protect the research and development process and reinforce the spirit of innovation and leadership that allows us to do the impossible today and in the future.