Health care reform will not impact America's pharmaceutical research industry

A recent Reuters article reported that America's pharmaceutical research and biotechnology companies don't expect an industry increase as a result of broader insurance coverage proposed in health care reform.

While 39 million additional Americans may begin receiving health care insurance coverage under the proposed legislation, the industry's gain would "depend primarily on the access" extended to the new enrollees according to David Brennan, AstraZenca Plc Chairman and current chair of the Pharmaceutical Research and Manufacturers of America (PhRMA).

"If it's private sector coverage in the existing programs where we compete, then we'll have an opportunity," he said. Brennan also stated that generic drugs make up about 70 percent of prescriptions, and "we compete in a much smaller segment of the market than we did before."

To read the full article, visit Reuters.

SOURCE Pharmaceutical Research and Manufacturers of America