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Looking Ahead New

Looking Ahead New medicines are revolutionizing health care and helping millions of patients live longer, healthier lives. As innovative biopharmaceutical companies harness and translate new scientific and technological advances into new medicines, our industry with more than 7,000 medicines in development will continue to bring new hope to patients. Delivering on this promise is not only critical to patients but central to sustaining and driving economic growth and US global competitiveness. A robust policy and regulatory framework is needed to ensure that companies can deliver on the promise of the pipeline. The framework includes the need for strong intellectual property (IP) rights and enforcement of IP rights both within the United States and abroad through 68 Conclusion

strong trade agreements. Trade agreements must promote a level playing field globally, as trade and innovation policies are increasingly entwined in the growing globalized economy. enforceable, common-sense rules that prevent discrimination and remove barriers to access. These steps will improve coverage and access and help make medicines more affordable to patients. The introduction of medical advances that are critical to improving patients’ lives will also require a well-functioning, science-based regulatory system that fosters the timely review, approval, and introduction of medical advances. It will also require a regulatory system that embraces scientific and technological advances like new innovative clinical trial networks, incorporates patient-reported outcomes, and supports the development of personalized medicines and diagnostics. Public policies also need to foster the health care market’s shift to new value-based payment incentives that would provide better value for patients and the health care system. New, value-based payment models would pay providers and other stakeholders for value, recognize the value of innovation in health care, create payment incentives based on care that patients value, and remove regulatory barriers to innovators’ participation as partners in value-based health care. This will lead to better outcomes for patients, support continued innovation, and provide an alternative to proposals that rely on centralized government interventions that restrict patient access and impede continued innovation. The United States hosts a dynamic, collaborative research ecosystem among government, academia, biopharmaceutical companies, and others. We must ensure that public policies sustain and grow this system, which is the envy of the world. The biopharmaceutical industry is committed to working across the innovation ecosystem and supporting pragmatic, patient-centric approaches to building a stronger and more sustainable US health care system. Addressing health care holistically, we can build a sustainable, sciencebased health care system that stops the growth of chronic disease and harnesses today’s hopes to discover tomorrow’s cures. Consumers must also be empowered in the delivery of their care because a well-informed consumer is better equipped to judge value. This includes broader access to information on health care out-of-pocket costs and quality. In addition, vulnerable patients should have the protection of Conclusion 69

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