WASHINGTON--(BUSINESS WIRE)--

Biotechnology Industry Organization (BIO)President and CEO Jim Greenwood issued the following statement on the ruling issued today by the U.S. Supreme Court regarding the Affordable Care Act:

BIO will continue to work with relevant federal and state agencies to ensure implementation of the law in a manner that helps enable the U.S. biotech communitys continued development of lifesaving cures and other medical breakthroughs while expanding patient access to these critical cures, medicines and innovations. We will work to ensure that biotech researchers can continue to address the diseases of today while conducting the research and investment required to develop the advanced medicines and cures of tomorrow.

We also will continue our work with U.S. Food and Drug Administration (FDA) to implement the bipartisan-backed biosimilars pathway that was enacted under the law. Specifically, we will advocate for implementation approaches that ensure patient safety, expand patient access and competition, and provide necessary and fair incentives that will help spur continued biomedical breakthroughs. FDA regulations and guidance must help todays patients while enabling the biotech community to move into tomorrow with cures and continued breakthroughs so our children and grandchildren won't have to live with the same diseases we have faced and, perhaps, one day, any diseases at all.

In addition, BIO will continue to support efforts to repeal the Independent Payment Advisory Board (IPAB), which threatens patient access to needed cures and medical breakthroughs.

About BIO

BIO represents more than 1,100 biotechnology companies, academic institutions, state biotechnology centers and related organizations across the United States and in more than 30 other nations. BIO members are involved in the research and development of innovative healthcare, agricultural, industrial and environmental biotechnology products. BIO also produces the BIO International Convention, the worlds largest gathering of the biotechnology industry, along with industry-leading investor and partnering meetings held around the world. BIO produces BIOtechNOW, an online portal and monthly newsletter chronicling innovations transforming our world. Subscribe to BIOtechNOW.

Upcoming BIO Events

BIO India International Conference September 12 13, 2012 Mumbai, India

Livestock Biotech Summit September 19 21, 2012 Kansas City, MO

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Supreme Court Affordable Care Act Ruling Must Now Lead to Implementation That Will Promote Innovation and Expand ...