Modern biotechnology creates next generation therapies and cures, delivers value to patients and the economy, cuts greenhouse gas emissions, reduces reliance on fossil fuels, and generates higher crop yields with fewer resources. These critical activities and advances thrive only in an environment where biotechnology is supported by policies that maintain incentives for future innovation including the form of intellectual property rights while, at the same time, providing fair and equitable consumer access to innovative products. On both fronts, biotechnology enterprises face unprecedented challenges that, if not addressed, will slow the innovation engine. The consequent negative effects will be felt by all nations. Today, the biotechnology industry faces enormous challenges caused by deep public concern about pricing and access to medicines. The consequent political and public pressure is leading to rapid fire and poorly considered legislation. This, in turn, will likely result in an erosion of incentives to innovate, as it impacts return on investment and access to capital.
