Biotechnology innovations is helping Maryland patients access the cures and advancements in treatment they need every day.
- Modern biotechnology provides breakthrough products and technologies to combat debilitating and rare diseases.
- There are currently more than 250 biotechnology health care products and vaccines available to Maryland patients, many for previously untreatable diseases.
The biotechnology industry is a critical jobs creator in Maryland.
- The biotechnology industry employs more than 41,000 Marylanders in good, high paying jobs and invests billions in the state annually.
- Maryland is ranked #3 in the country in innovation and entrepreneurship, according to the U.S. Chamber of Commerce. Few states rival Maryland’s combination of a superior workforce, technological prowess, market access, and tech-centered policy incentives.
Maryland policymakers continue to assess opportunities to lower health care costs for patients across the state.
- In 2018, HB 768 was passed, establishing the Prescription Drug Affordability Board which is tasked with examining the rising cost of care and exploring options to lower what patients pay for their prescription medicines.
Protecting the innovation economy requires action. Lawmakers in Annapolis should take steps to protect patient access to care and Maryland’s strong innovative spirit.
- Over 1,000 Marylanders have already signed a petition urging Annapolis to focus only on legislation that protects patients and grows Maryland’s innovative business environment.
- Lawmakers should work with the Prescription Drug Affordability Board to ensure recommended policies protect patient access to innovative medicines.
- Shortsighted legislation aimed at funding education proposals could harm the Maryland economy, and therefore put Maryland patients at risk if business cannot afford the new tax environment. The Maryland tax structure should be comprehensively reviewed – which hasn’t happened since 1987.
The Maryland Tech Council supports health policies that are patient-centered, holistic, and promote patient access to cures.
- The Maryland Tech Council advocates for policies that will bring new treatments to Maryland patients with serious medical conditions, promote innovation, and improve patient access.
- The Prescription Drug Affordability Board should prioritize solutions that are patient-centered and continue to foster the innovation economy. They should avoid policies such as ICER-style cost-effectiveness reviews that have come under intense scrutiny from advocates who raise concerns that such reviews discriminate against, and could deny access to care, for those with chronic or rare diseases, older Americans, those with disabilities and others.
- Policymakers should prioritize reviewing current regulatory burdens that limit marketplace competition for innovative therapies, which foster competition and help lower costs for both patients and the state of Maryland.
Misguided drug pricing transparency legislation will harm patient access to care, stifle investment in Maryland, and do nothing to address the price consumers pay for medicine.
- In 2017, Maryland passed drug price transparency legislation. Additional, heavyhanded drug pricing legislation risks undermining competition, disrupting product availability and stifling investment in the Maryland innovation economy.