Regional Biotech Association Warns Vermont Legislation Could Have Profound Negat...( - Shumlin Promoting Senate Bill S. 48...)

- Shumlin Promoting Senate Bill S. 48 Today; Will Thwart Burgeoning Biotechnology Industry, Costing Jobs and Research Funds in Vermont -

MONTPELIER, Vt., March 27 /PRNewswire/ -- The region's largest biotechnology association today warned that a bill under consideration by the Vermont Legislature will create the most restrictive and onerous regulatory environments for biotechnology growth and development not only in New England, but in the entire nation. Senate Bill 48, an Act Relating to the Marketing of Prescribed Products, is the focus of a presentation today at the State House by Senate President Peter Shumlin.

"The Legislation's radical expansion of Vermont's existing and strict biopharmaceutical marketing laws promises to hinder significantly the development of the biotechnology industry in this state," said Paula Newton, Chair of the New England Biotech Association (NEBA).

NEBA serves as the regional policy and public affairs voice for the biotechnology and biopharmaceutical community, representing state biotech associations, companies, academic institutions, and other organizations consisting of more than 800 entities.

Vermont law already heavily regulates biopharmaceutical marketing activities by requiring the disclosure of the value, nature and purpose of certain marketing related expenses by pharmaceutical manufacturers of just $25 or more in value, among other things. The bill would expand existing regulation by limiting compensation and other payments between biopharmaceutical manufacturers and physicians -- including educational materials. And it would broadly expand already onerous disclosure requirements to include competitively sensitive information concerning clinical trials. Furthermore, IMS Health this month reported that annual U.S. prescription sales growth was just 1.3 percent in 2008, the lowest rate since 1963, according to data maintained by CMS -- m
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