Biotech industry group spent $1.9M lobbying in 1Q

Date : 06/13/2008 @ 3:00PM
Source : TFN
Stock : Gilead Sciences Inc (GILD)
Quote : 40.59  -1.29 (-3.08%) @ 7:03PM
<< BackQuote Chart Financials

 



Biotech industry group spent $1.9M lobbying in 1Q

        WASHINGTON (AP) - The Biotech Industry Organization spent over $1.9 million
lobbying in the first quarter on animal cloning and other issues, according to
an amended disclosure form.
    The group lobbied on cloning issues ahead of the Food and Drug
Administration's ruling that cloned meat and milk is safe for consumers. Several
members of Congress tried to compel the agency to do more studies before issuing
a ruling, but the FDA cleared the products for consumption in January.
    The BIO also lobbied on a bill aimed at updating the U.S. patent system.
High-tech companies support the bill that passed the House last year, saying it
would cut down on frivolous patent-infringement lawsuits. But the pharmaceutical
industry has argued it will weaken patent protections on drugs by reducing
infringement penalties. The bill has stalled in the Senate.
    The industry group, whose members include Amgen Inc., Gilead Sciences Inc.
and Biogen Idec Inc., also lobbied on legislation that would allow the FDA to
approve generic copies of biotech drugs, according to the amended form filed May
20 with the House clerk's office.
    Generic drug companies already market cheaper versions of regular, chemical
drugs, but the FDA does not have the authority to approve copies of biotech
drugs, which are more complicated.
    The biotech industry have resisted efforts to create a generic biotech
industry for nearly a decade. But with Democrats poised to pick up more seats in
Congress this November, they are now pushing for a compromise before the
political tide in Washington turns further in favor of their generic rivals.
    Biotech makers last year opposed a bill that would have allowed pharmacists
to switch patients to cheaper medications without their doctors' approval. The
industry argued that only a doctor should be able to switch a patient's
prescription to a generic. That distinction could let branded drug companies
retain more sales.
    They also want biotech medicines to be guaranteed at least 12 years on the
market before having to compete with generic copies. Generic drug makers say any
protection beyond five years is unreasonable. Senate lawmakers attempted to pass
a compromise bill last year, but negotiations broke down over the length of
exclusivity.
    Among those registered to lobby in the first three months of the year on
behalf of the BIO were: Bill Olson, former legislative assistant for Rep. John
Shimkus, R.-Ill.; Jeanne Haggerty, former policy adviser to Rep. Joe Barton,
R-Texas; and Patrick Carroll, former legislative assistant to Rep. Ray LaHood,
R-Ill.
    
Copyright 2008 Associated Press. All rights reserved. This material may not be
published, broadcast, rewritten, or redistributed.
<< Back


Gilead Sciences Inc Historical Chart Gilead Sciences Inc Intraday Chart  
Period


LSE and PLUS quotes are live. NYSE and AMEX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions :: Contact Us :: Request an Exchange :: Affiliate Scheme
Copyright1999-2008 ADVFN PLC. Copyright and limited reproduction :: Privacy Policy :: Investment Warning :: Advertise with us :: Data accreditations :: Investor Relations :: Press office :: Jobs
ADDITIONAL SERVICES AVAILABLE FROM ADVFN
Upgrade - Click here for more information on ADVFN premium services Money Words - ADVFN Financial Glossary Investor Training ADVFN Financial Bookshop Online Training Academy
43 site:2us 081007 19:45 Stock Message Boards ( 2001 | 2002 | 2003 | 2004 | 2005 | 2005 | 2007 )