California Life Sciences Association Applauds House Vote to Repeal the Independent Payment Advisory Board (IPAB)
IPAB could harm biomedical innovation by reducing incentives for investment in new research and product development; California congressional delegation overwhelmingly supports repeal
WASHINGTON & SAN FRANCISCO--(BUSINESS WIRE)-- California Life Sciences Association, the public policy and business leadership trade association representing California’s life sciences industry, today applauded the bipartisan U.S. House passage of H.R. 849, the Protecting Seniors’ Access to Medicare Act of 2017, which repeals the Independent Payment Advisory Board (IPAB). Eliminating the IPAB is critical for the continued success of California’s innovative life sciences sector because the board could harm biomedical innovation by reducing incentives for investment in new research and product development.
The CLSA-supported measure passed the House today by a vote of 307-11. California’s congressional delegation voted to repeal the board by a vote of 30-20, with 17 Democrats voting in support of the measure. Notably, California’s Democrats made up 23% of the total Democratic votes cast in support of the bill. This statement can be attributed to Sara Radcliffe, President & CEO of CLSA:
“California Life Sciences Association (CLSA) applauds the strong, bipartisan House passage of the Protecting Seniors’ Access to Medicare Act, which repeals the Independent Payment Advisory Board (IPAB), and protects biomedical investment and R&D. One of the most bipartisanly controversial provisions in the Affordable Care Act (ACA) was the establishment of the IPAB – an elected 15-member Board tasked with presenting Congress with comprehensive proposals to cap the growth in Medicare spending. These policies, or proposed cuts to spending, would automatically take effect unless Congress were to pass similar reductions.
“For over 7 years, CLSA has advocated for repeal of IPAB because such blunt cost containment approaches could seriously harm the delicate cycle of biomedical innovation by reducing incentives for investment in new research and product development, and ultimately limit patient access to lifesaving treatments, therapies and technologies.
“On behalf of California's life sciences innovators, a sector with over 3,000 firms employing nearly 300,000 people, California Life Sciences Association joins the rest of the biomedical innovation ecosystem in supporting the repeal of IPAB, which would have harmful and long-lasting effects on medical innovation. We urge the Senate to take up H.R. 849, and support immediate and full repeal of IPAB.”
Click here to view the legislation.
About California Life Sciences Association (CLSA)
California Life Sciences Association (CLSA) is the state’s largest and most influential life sciences advocacy and business leadership organization. With offices in Sacramento, San Diego, South San Francisco, Los Angeles and Washington DC, CLSA works closely with industry, government, academia and others to shape public policy, improve access to innovative technologies and grow California’s life sciences economy. CLSA serves biotechnology, pharmaceutical, medical device and diagnostics companies, research universities and institutes, investors and service providers throughout the Golden State. CLSA was founded in 2015 when the Bay Area Bioscience Association (BayBio) and the California Healthcare Institute (CHI) merged. Visit CLSA at www.califesciences.org, and follow us on Twitter @CALifeSciences, Facebook, Instagram, LinkedIn and YouTube.
California Life Sciences Association (CLSA)
Will Zasadny, Director, Communications
Source: California Life Sciences Association