|[March 10, 2014]
BIO Applauds CMS for Withdrawing Problematic Part D Proposals
WASHINGTON --(Business Wire)--
Today, the Biotechnology Industry Organization (BIO) commended the
Centers for Medicare & Medicaid Services (CMS) for announcing their
decision to halt movement on several proposals in their Medicare Part D
draft rule, including the agency's proposal to eliminate protected class
status for certain drug classes, as well as other proposals such as
those related to reducing the number of Part D plans a particular plan
sponsor may offer, and the proposal to clarify the non-interference
Equally importantly, BIO commends those in Congress, including members
of the Senate Finance, House Energy & Commerce and House Ways & Means
Committees, as well as others, who on a bipartisan basis urged CMS to
withdraw either some or all of the draft rule.
If these proposals had been finalized, they would have eliminated
choices for seniors, raised seniors' premiums and out-of-pocket costs,
and increased costs for taxpayers.
The following can be attributed to BIO President and CEO, Jim Greenwood:
"We applaud the Administration for withdrawing the most harmful
provisions in this draft rule, and we applaud the Senate Finance
Committee, House Ways and Means Committee, and the Energy and Commerce
Committee in voicing strong, bipartisan opposition to the Proposed Rule,
as the draft rule would have affected the most vulnerable patients. The
priority must be ensuring timely access to medically necessary therapies
and mitigating the risk of complications associated with an interruption
of care for vulnerable Medicare beneficiaries.
"BIO has long been a strong supporter of the Medicare Part D
prescription drug benefit program.
"We believe that the Part D benefit has helped increase patient access
to critical therapies as well as ensure that patients will be able to
receive and afford the treatments that best meet their needs.
"BIO will continue to work with the Congress to encourage CMS to focus
on patient access in its ongoing implementation and refinement of this
BIO recently issued a comment
letter outlining concerns with the Proposed Rule. For more
information on the biotechnology industry, please visit www.bio.org.
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. BIOtechNOW
is BIO's blog chronicling "innovations transforming our world" and the
BIO Newsletter is the organization's bi-weekly email newsletter." Subscribe
to the BIO Newsletter.
Upcoming BIO Events
Asia International Conference
April 8-9, 2014
Congress on Industrial Biotechnology
May 12-15, 2014
June 23-26, 2014
San Diego, CA (News - Alert)
September 16-18, 2014
Sioux Falls, SD
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