PhRMA slams US President’s claims that Budget invests in innovation

Pharmaceutical Research and Manufacturers of America (PhRMA) president and chief executive John Castellani has issued a statement arguing that, while President Obama claims his budget invests in innovation and allows America to compete in the 21st century economy, the reality is that these proposals undermine such efforts. This 2015 budget proposal is damaging to patients, innovation, and the economy, he said.

“A key problem is how the President’s budget could dismantle Medicare Part D, which, to date, is a model of success,” he said adding: “It has greatly improved seniors’ access to medicines, held down premiums, achieved billions of dollars of savings on other Medicare costs by improving health, and cost hundreds of billions of dollars less than projected. Rather than embracing this rare, successful program, the President’s budget unproductively pushes, yet again, previously rejected proposals that would hurt, not bolster, the program.”

Budget would “jeopardize advances and economic growth”