PhRMA CEO John Castellani Responds to Mid-Term Election, Stresses Importance of Innovation to Help Grow Economy

WASHINGTON, Nov. 3, 2010 /PRNewswire-USNewswire/ -- Pharmaceutical Research and Manufacturers of America (PhRMA) President and CEO John Castellani released the following statement and video regarding the mid-term election:

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"Congratulations to all of the candidates who worked so hard on the campaign trail to earn the trust and votes of the American public.

"Two issues dominated the election this year: the state of our economy and jobs.

"There is no doubt that the last several years have been very tough for America and its workers.

"This is why it's so important for our nation's leaders to recognize the important role that America's biopharmaceutical research companies play in contributing to the national economy and creating millions of U.S. jobs as they develop medical advances.

"One way we can help our economy grow is to ensure that America remains the worldwide hub for scientific and medical research.

"When it comes to medical innovation, our nation is at a crossroads and it's up to our leaders to decide what path they want to take. Do they want to support the innovative engines that fuel America's economy, or do they want to let other countries win the race for knowledge, jobs and growth in the life sciences field?

"We believe the right path is one that strengthens the scientific and economic environments that foster medical advancements and serve as the foundations for great jobs and U.S. global competitiveness.

"Over the last couple of months, people have asked me why I took the job to lead PhRMA. My response is simple: I want to represent the most research-intensive sector in the U.S. Our companies are dedicated to improving and saving the lives of millions of patients worldwide and their work is also vital to our nation's economic prospects.

"I've had the honor of meeting many of the men and women working at biopharmaceutical companies who are researching and developing new medicines that can help patients battle diseases such as cancer, HIV/AIDS, heart disease and Alzheimer's. Collectively and individually, their passion, their ingenuity, their vision and, perhaps most importantly their determination, are resources that can't be taken for granted. They must be preserved and cultivated to reach even greater heights.

"Rest assured, America's biopharmaceutical companies are striving to achieve the next breakthrough. For example, consider Alzheimer's – PhRMA just released a report showing that our companies are working on nearly 100 new medicines for patients battling this devastating disease and related dementias.

"I urge you to check out the personal stories of company researchers, some of whom have inspirational stories about loved ones suffering from Alzheimer's, who are working on future treatments that could hold the key to eliminating the pain caused by this disease and helping to control related health care costs.

"The Alzheimer's Association recently estimated that the development of a new treatment that delays the onset of Alzheimer's could reduce Medicare and Medicaid spending on patients with the disease by more than $100 billion annually by 2030.

"In today's economic climate, we can't afford to ignore these potential savings.

"Congratulations again to our elected officials. We look forward to working with the new Congress on all of these important issues in the months and years ahead."

The Pharmaceutical Research and Manufacturers of America (PhRMA) represents the country's leading pharmaceutical research and biotechnology companies, which are devoted to inventing medicines that allow patients to live longer, healthier, and more productive lives. PhRMA companies are leading the way in the search for new cures. PhRMA members alone invested an estimated $45.8 billion in 2009 in discovering and developing new medicines. Industry-wide research and investment reached a record $65.3 billion in 2009.

PhRMA Internet Address: http://www.phrma.org

For information on how innovative medicines save lives, visit: http://www.innovation.org

For information on the Partnership for Prescription Assistance, visit: http://www.pparx.org

For more information on public health emergencies, visit: http://www.rxresponse.org

For information on the danger of imported drugs, visit: http://www.buysafedrugs.info

SOURCE Pharmaceutical Research and Manufacturers of America