California Life Sciences Association issues statement on SB 1010
Sacramento, CA–California Life Sciences Association (CLSA), the statewide public policy organization representing over 750 of California’s leading life sciences innovators, issued the following statement opposing SB 1010. This statement can be attributed to Sara Radcliffe, President & CEO, California Life Sciences Association (CLSA):
“As innovators in the life sciences sector dedicated to the development of treatments and cures for patients across multiple disease states and levels, we have serious concerns regarding SB 1010. The information being sought under SB 1010’s framework would create legal challenges, provide a distorted view of the role medicines play in overall healthcare costs, pose substantial risks to our members’ trade secrets and otherwise proprietary information, and result in significant costs to the system with no discernible benefit to patients.
SB 1010 would create significant practical and legal challenges for those in the life sciences industry, while failing to present a true picture of costs. The bill requires medicine-specific information life sciences organizations cannot produce and demands documentation that would, in many cases, violate FDA and federal securities laws, as well as constitute proprietary information.
A new medicine can cost $2.6 billion and take more than 15 years to develop. SB 1010 distorts the true cost landscape and could add millions in new costs to the system. By looking at medicines as a short-term expenditure and not an investment, the bill looks at only one side of the ledger.
On behalf of California’s life sciences innovators, a sector with 2,848 life sciences companies employing nearly 300,000 people all across the state, California Life Sciences Association (CLSA) must respectfully oppose SB 1010 in its current form, and hope to continue to work with the bill’s author and sponsors to ensure it can make a meaningful contribution to cost transparency while not inhibiting patients’ access to treatments and cures.”
To learn more, click here to view California Life Sciences Associations (CLSA)’s letter of opposition.
About California Life Sciences Association (CLSA)
California Life Sciences Association (CLSA) is the leading voice for California’s life sciences sector. We work closely with industry, government, academia and other stakeholders to shape public policy, drive business solutions and grow California’s life sciences innovation ecosystem. CLSA serves over 750 biotechnology, pharmaceutical, medical device, and diagnostics companies, research universities and institutes, investors and service providers. CLSA was founded in 2015 when the Bay Area Bioscience Association (BayBio) and the California Healthcare Institute (CHI) merged to create the state’s most influential life sciences advocacy and business leadership organization. Visit CLSA at www.califesciences.org, and follow us on Twitter @CALifeSciences, Facebook, Instagram, LinkedIn and YouTube.