Obama offers 7-year protection for biotech drugs - Washington Business Journal:

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The biopharmaceutical industry has arguedc that the five years of protection offered by Waxmajnin H.R. 1427 would stifled innovation. But the in a reporg earlier this month said the 12 to 14 yearsa that the industry has said publiclu that it wants also wouldf hurt innovation and delay access tocheaper drugs. Eshoo’s H.R. 1548 calls for a 12-year perioed of data exclusivity, basically protecting the patents coverinvg innovativebiotech therapies.
In a letter to Waxman, Nancy-Ann DeParle, Obama’sz health-care reform director, and budgetf director Peter Orszagsaid “the seven-yead policy in the FY 2010 budget is a generous compromise between what the FTC research has concluded and what the pharmaceutical industry has , however, said it is “extremely concerned” that the seven-yeart plan is “a risky shortcu t to biosimilars.
” “We believe this abbreviated period will undermine the incentivexs necessary for continued biotec research into breakthrough medicines and cures for diseases such as multiple sclerosis, Alzheimer’s and HIV/AIDS as well as unme medical needs,” BIO President and CEO Jim Greenwoodd said in a statement.