WASHINGTON, March 20, 2020 /PRNewswire/ -- Today, the Pharmaceutical Research and Manufacturers of America (PhRMA) and the Biotechnology Innovation Organization (BIO) underscored the industry's commitment to finding solutions to prevent, diagnose and treat those with COVID-19, a disease caused by a novel strain of coronavirus. The decades-long investments biopharmaceutical companies have made in new technologies, research and treatments have prepared the industry to act swiftly to respond to the public health crisis.
America's biopharmaceutical companies are working around the clock to:
- Work with government agencies and diagnostic partners to increase COVID-19 testing capability and capacity.
- Screen vast global libraries of medicines to identify potential treatments and have numerous clinical trials underway to test existing therapies.
- Research and develop new therapies and treatments for those infected with the virus.
- Use investments in new technologies to speed the development of safe and effective vaccines.
"I'm confident our industry will achieve its shared goal to beat coronavirus, and our commitment underscores how we are uniquely positioned to do so," said Stephen J. Ubl, president and chief executive officer of PhRMA. "We have deep scientific knowledge gained from decades of experience with similar viruses; the industry has invested billions in technologies that have dramatically shortened the time it takes to decode viruses and develop a potential vaccine; and our companies alone have the ability to manufacture and broadly disseminate vaccines or treatments."
"Researchers at America's biopharmaceutical companies are working around the clock to contain the spread of the novel coronavirus and deliver treatments to those impacted by this deadly disease," said Jim Greenwood, president and CEO of BIO. "Today, we renew our commitment as an industry to help those in need, protect our workforce and ensure any treatments we develop in response to this pandemic are accessible and affordable for everyone. These are the principles that always guide our industry, and they serve as the foundation for our response to this global health crisis."
America's biopharmaceutical companies are working in close collaboration with government agencies and other stakeholders in the quest to beat coronavirus. Everyone has a unique role to play and we are confident that together we can succeed.
View the industry's print ad about our commitment to beat coronavirus here.
View the industry's commitment to beat coronavirus here.
The Pharmaceutical Research and Manufacturers of America (PhRMA) represents the country's leading innovative biopharmaceutical research companies, which are devoted to discovering and developing medicines that enable patients to live longer, healthier, and more productive lives. Since 2000, PhRMA member companies have invested more than $900 billion in the search for new treatments and cures, including an estimated $79.6 billion in 2018 alone.
BIO is the world's largest trade association representing biotechnology companies, academic institutions, state biotechnology centers and related organizations across the United States and in more than 30 other nations. BIO members are involved in the research and development of innovative healthcare, agricultural, industrial and environmental biotechnology products. BIO also produces the BIO International Convention, the world's largest gathering of the biotechnology industry, along with industry-leading investor and partnering meetings held around the world.
SOURCE Pharmaceutical Research and Manufacturers of America (PhRMA)