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The Council of State Bioscience Associations (CSBA), a coalition of state-based bioscience trade associations convened by the Biotechnology Innovation Organization (BIO), joined forces in Washington, D.C., in March to educate lawmakers on the economic impact biotech makes across the U.S. and the importance of fostering an innovation-friendly ecosystem.
State associations and member companies articulated backing for supportive legislation, including the recently re-introduced American Innovation and Jobs Act. The CSBA representatives hand-delivered a letter of support for that law, which would promote the investment in research that is the lifeblood of biotech by extending R&D tax credits.
The CSBA contingent included:
- 84 registrants in total.
- 54 from state association leaders and staff.
- 30 member company staff members.
- 24 state associations represented.
In total, CSBA scheduled 123 in-person visits on Capitol Hill.
Key issues participants took to the Hill included:
- Economic value of the biotech industry: The U.S. sector employed 2.1 million, with above-average salaries, and had a $2.9 trillion impact on the economy in 2021.
- Drug price controls kill innovation: The Inflation Reduction Act is already hampering investment and more price controls are coming.
- Policies to support R&D and legislation that enables investing maximum resources in R&D.
- Support for the Bayh-Dole Act, which underpins the innovation ecosystem, and opposition to misuses of march-in rights.
