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Proposed Legislative Action

Numerous challenges threaten the success of the biotech industry, and thoughtful, proactive steps must be taken to protect the industry's ability to turn scientific discoveries into life-saving therapies. These priority actions, as identified by BayBio should include:
-- Increase the National Institutes of Health and National Science

Foundation budgets by 5% or more each year

-- Enact patent reform legislation that maintains and protects American

leadership in the life sciences

-- Invest in more people and technology at the two most critical agencies

with oversight over the life sciences industry -- the U.S. Food and

Drug Administration and U.S. Patent and Trademark Office

"Twenty-first century medicine requires 21st century legislation and regulation, and BayBio is committed to that end," said Gardner. "We have hundreds of products in development, but our industry has no assurance of success, since there is much more yet to be done. We look forward to working with our members, investors and public officials to continue bringing a robust pipeline of therapies to the patients who need them."

BayBio:IMPACT 2008 serves as a reference for critical debates of state and national interest, including economic competitiveness and healthcare reform.

"At a time of extraordinary industry growth, the biotech industry faces a host of policy challenges that threaten its future growth and sustainability," said Paul Hastings, President and CEO of OncoMed Pharmaceuticals. "Now is the time to engage leading policymakers, executives, researchers and advocates to take important actions to ensure that the innovations of this industry will continue to have a sustained positive impact on people's lives for years to come."

Over the course of 2008, BayBio will continue to approach public leaders and inv
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