Home > Advocacy > Advocacy & Government Affairs >
In this fast-moving industry, BioCT keeps policy makers and influencers abreast of the latest developments and changing needs of the life science community.
Senator Cabrera, Representative Wood, Senator Hwang, Representative Pavalock-D’Amato, and members of Insurance and Real Estate Committee, thank you for the opportunity to submit testimony regarding HB 6870 An Act Addressing Patients’ Prescription Drug Costs.
My name is Jodie Gillon, and I am the President and CEO of BioCT. BioCT is the voice for the life science industry in Connecticut representing >250 member companies. Our mission is to catalyze and accelerate growth in the life sciences with the goal of improving human health, by fostering a rich, innovative ecosystem and promoting Connecticut as a preferred destination for life science exploration and innovation. Our members include life and healthcare science companies, major research universities and other academic institutions, health centers, medical device developers and manufacturers and other partners. We educate, cultivate entrepreneurship, support the growth of life science companies and collaborate to ensure a sustainable, high-value life science and healthcare community that improves our quality of life and keeps the Connecticut economy strong.
On behalf of our organization, I would like to voice my concerns regarding HB 6870. This bill could jeopardize the future of the life science industry in the state of Connecticut. We are in direct competition with other states in our region trying to create a favorable environment for life science growth in our state. HB 6870 could hamper the progress we have made and deter future investment in a highly competitive industry and being harmful to future innovation.
This bill would direct the Commissioner of the Department of Consumer Protection to hire a consultant to study the feasibility of establishing a drug importation program to reduce prescription drug costs in the state. Our concern is we could be jeopardizing our residents from having access to safe and effective pharmaceuticals protected by the FDA. Importation could jeopardize that safety net we currently have in place. Additionally, The Government of Canada has stated that it is ensuring that Canadians have access to the prescription drugs they need and has been clear in its position: bulk importation will not provide an effective solution to the problem of drug prices in the United States.
We need to be mindful of policy proposals hindering growth and innovation in the State. HB 6870 would establish price controls tied into the Consumer Price Index that could limit pharmacy options for Connecticut residents. Creating such policies will jeopardize patient access to lifesaving drugs and deter investment in biotechnology and future innovation. The state has been proactive in actively recruiting bioscience businesses. Recently, Governor Lamont included an increase in research and development tax credits for the life science industry from 65 to 90 percent in his proposed budget. This bill would counter those positive efforts of growing the life science industry in Connecticut by creating a negative regulatory environment for the businesses we are trying to retain and recruit.
As an organization, we are also concerned about rising healthcare costs and patient access. We urge you to partner with us and other organizations to come up with a better solution to enable patient access to testing and medicines while not hindering innovation and growth of our industry in CT.
Jodie Gillon
President & CEO, BioCT