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BIO Testifies to House Committee on Health Care Spending in a New Economic Stimulus

BIO Testifies to House Committee on Health Care Spending in a New Economic Stimulus By Paul Winters

On Nov. 13, The House Energy and Commerce Subcommittee on Health held a hearing on "Treatments for an Ailing Economy: Protecting Health Care Coverage and Investing in Biomedical Research." This was the subcommittee's second hearing on the role health care should play in any new economic stimulus legislation.

Describing the purpose for the hearing, Committee Chairman Rep. John Dingell (D-Mich.), noted in his opening statement, "Earlier this fall, after the collapse of the housing market and failures of key economic institutions, Congress acted to pass the Emergency Economic Stabilization Package of 2008, which was signed into law on October 3, 2008. The continued loss of jobs and revenues for States, however, underlines the need for a second stimulus package. That package needs to be targeted to include funding for infrastructure, unemployment insurance, and health care in the form of increased federal funding for Medicaid to the states."

Rachel King, CEO of GlycoMimetics of Gaithersburg, Md., testified on behalf of BIO. In her prepared remarks, King told the subcommittee, "Of course, one way to both spur the economy and provide support for biomedical research is increasing federal funding of the National Institutes of Health (NIH)."

King went on to say that it was critical to improve the investment climate for emerging biotech companies. "The financial crisis facing our national continues to have a profound impact on biotech companies and threatens biomedical innovation and U.S. competitiveness," she stated. "Biotech companies are facing the need to shelve promising therapies or delay their development to conserve cash, postponing the availability of new therapeutic options for patients."

King recommended several tax provision reforms and incentives that could reinvigorate investment in the biotechnology industry. "The biotechnology industry can serve as an engine to build an innovation-based economy and help create economic growth by creating high-value, high-wage U.S. jobs, continuing U.S. leadership in innovation, and addressing and advancing solutions to pressing healthcare, global warming, environmental, energy security and agricultural issues," King stated. 本人已认领该文翻译,72小时后若未提交译文,请其他战友自由认领 . Weathering the Storm

By Joshua Boger, Ph.D.

For the high-risk biotechnology industry, the current financial crisis seems like an unfair "piling-on." On top of the many ordinary challenges we face - spiraling research and development costs, regulatory instability, reimbursement uncertainties - an upheaval in the financial underpinnings supporting our companies could not come at a worse time.
对于高风险的生物技术行业,当前的金融危机似乎处于不公平的地位。我们面临的很多普通挑战—不断研究和开发费用,不稳定的管理,不确定性的偿还—一个动荡的财政基础支持我们的企业不能在一个糟糕的时间来临。
No other industry in the world delivers the types of life-saving and innovative products that come from biotech companies. But no other industry in the world is as dependent on financial capital either, making our industry a delicate flower in today's harsh economic environment.
世界上生物技术公司没有任何其他行业提供求生的种类和创新的产品。但是,世界上没有其他行业是依赖于资本,或者使我们的行业如一颗美丽的鲜花盛开在今天严峻的经济环境中。
The United States has witnessed near unprecedented financial turmoil in 2008, a turmoil that rapidly spread to all world markets. Some of the world's most recognized and respected corporate brand names - names discussed around the dinner table for decades - have simply disappeared under an avalanche of financial pressures and speculative unwindings. While biotechnology and health care companies have by no means been immune, the industry as a whole has been relatively insulated - so far - from immediate damages from the roiling global financial markets.
2008年,美国经历了前所未有的经融风暴,这场风暴很快席卷全球。一些全球知名和受尊重的企业品牌—这些品牌都是数十年来人们茶余饭后所讨论的企业--在如今的经济压力和投资压力的崩溃下,立刻消失了。迄今为止,从直接受经济风暴损害的企业开始,虽然生物技术和医疗保健公司绝非幸免,整个行业的发展一直与别的企业相对独立。
At the end of November, the NASDAQ biotech index was down only over 22 percent year to date. Yes, I said "only" 22 percent, as the broader NASDAQ index was down some 42 percent over the same period. Take a closer look at other sector indices and you will see that the industries providing real value to people's lives - especially biotechnology, pharmaceuticals and other health care companies - have been less impacted by the ongoing financial crisis, while sectors such as retail sales and technology have not fared nearly as well.

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作者:admin@医学,生命科学    2011-06-29 05:45
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