BIO Applauds World Health Assembly's Global Strategy On Public Health, Innovation And Intellectual Property

Main Category: Pharma Industry / Biotech Industry
Article Date: 04 Jun 2008 - 1:00 PDT

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The Biotechnology Industry Organization (BIO) applauds the adoption of the "Resolution on the Global Strategy and Plan of Action on Public Health, Innovation and Intellectual Property" by the 61st World Health Assembly (WHA) on May 24th. BIO participated throughout the negotiation process of the Global Strategy as a "concerned entity."

The Global Strategy signifies a positive step towards addressing the public health needs of developing countries. It sets forth recommendations that will lead to the exploration of new financing mechanisms to incentivize research and development (R&D); provide support to governments for R&D for health concerns of the developing world, including thorough support of new research into traditional medicines; encourage capacity building in developing countries; and promote technology transfer and collaborations between the public and the private sectors.

"BIO applauds these initiatives which provide new financing and partnering opportunities for biotechnology companies throughout the world," stated BIO President and CEO Jim Greenwood. "We appreciate the opportunity to illustrate how our industry can play a constructive and essential role in providing new, innovative medicines to developing countries. The release of the Global Strategy marks a milestone in bringing international attention to this important cause."

Earlier this year, BIO and BIO Ventures for Global Health hosted the Partnering for Global Health Forum to help catalyze partnerships between the global health and biopharmaceutical communities to develop the next generation of medicines to treat neglected diseases of the developing world. The Forum featured an open exchange with world-renowned leaders in global health, industry, government and the donor community; opportunities to meet one-on-one with leading companies, researchers, donors and investors; presentations from innovators pursuing technologies and products applicable to diseases of the developing world; and perspectives from public and private funders which support global health R&D.

"We look forward to playing a role in the implementation of the Global Strategy and to assisting in international efforts to address the health needs of developing nations," concluded Greenwood.

Upcoming BIO Events

BIO International Convention
June 17-20, 2008
San Diego, CA

Pacific Rim Summit on Industrial Biotechnology and Bioenergy
Sept. 10-12, 2008
Vancouver, BC

About BIO

BIO represents more than 1,200 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 world's largest gathering of the biotechnology industry, along with industry-leading investor and partnering meetings held around the world.

http://www.bio.org