SAN DIEGO, July 12, 2017 /PRNewswire/ -- Biocom, the association representing the California life science industry, issued the following statement regarding passage of H.R.2430, the FDA Reauthorization Act (FDARA) of 2017 in the U.S. House of Representatives:
"Biocom commends the House of Representatives on passing important legislation to reauthorize the prescription drug, medical device, generic drug, and biosimilar user fee agreements, which are set to expire in September 2017," said Joe Panetta, president and CEO of Biocom. "These agreements are negotiated by the Food and Drug Administration (FDA) and life science industry every five years and have helped reduce backlogs at the FDA, introduce innovative technologies and better engage patients."
"California is a world leader in biomedical innovation, generating $317 billion in annual economic activity and supporting more than 1 million jobs. The reauthorization of FDA user fee agreements is essential to ensuring that FDA is well-funded and can continue to review and approve life-saving products for the more than 12,000 life science establishments that call California home. We urge the Senate to follow the House and approve legislation in a timely manner," added Panetta.
Biocom is the largest, most experienced leader and advocate for California's life science sector. We work on behalf of more than 900 members to drive public policy, build an enviable network of industry leaders, create access to capital, introduce cutting-edge STEM education programs, and create robust value-driven purchasing programs.
Founded in 1995 in San Diego, Biocom provides the strongest public voice to research institutions and companies that fuel the local and state-wide economy. Our goal is simple: to help our members produce novel solutions that improve the human condition. In addition to its San Diego headquarters, Biocom operates a core office serving the Los Angeles market, satellite offices in Washington, D.C. and Tokyo, and has a continuous staff presence in the San Francisco Bay area and Sacramento. Our broad membership benefits apply to biotechnology, pharmaceutical, medical device, genomics and diagnostics companies of all sizes, as well as to research universities and institutes, clinical research organizations, investors and service providers.
For more information on Biocom, please visit our website at www.biocom.org. Connect with us on LinkedIn, Facebook, and Twitter (@BIOCOMCA).