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2023 | Q2 Newsletter
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CONNECT
ADVOCATE
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ADVANCE
PRESIDENT'S MESSAGE
Welcome to the 2023 Q2 Newsletter. Life Sciences Pennsylvania has been working tirelessly to advocate on your behalf and provide opportunities for you to connect within the life sciences industry. We hope this recap of the past quarter provides you with the optimism we hold each day for the association and the industry.
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ADVOCACY
Debt Celing
As part of our federal advocacy activity Life Sciences PA organized several visits for staff of the U.S. Senate Health, Education, Labor and Pensions Committee – Subcommittee on Children and Families, which is chaired by U.S. Senator Bob Casey (D-PA). Congressional members rely heavily on staff to ensure they have accurate and up to date information, and it is critically important we highlight Pennsylvania’s robust life sciences ecosystem for public officials and/or their staff. The visit included stops at Iovance Biotherapeutics, The Wistar Institute and the University City Science Center to discuss the user fee agreements, SBIR funding, workforce matters, and other issues affecting Pennsylvania’s research and development community.
Inflation Reduction Act Implementation
The U.S. House of Representatives passed H.R.7667, the Food and Drug Amendments Act June 8. The legislation reauthorizes the Prescription Drug User Fee Act (PDUFA), Medical Device User Fee Act (MDUFA), Biologics User Fee Act (BsUFA) and the Generic Drug User Fee Act (GDUFA).
Reauthorization of the User Fee Acts is a top advocacy priority for Life Sciences PA and we are pleased to report 16 of 18 Pennsylvania House delegation members voted for the bill.
The U.S. Senate Health, Education, Labor and Pensions (HELP) Committee passed its user fee act legislation June 14. After moving through the Senate the bills will likely need to go to a conference committee between the House and Senate, so they reconcile any discrepancies and have the legislation signed into law before the current agreements expire September 30, 2022.
Traditional Coverage for Emerging Technologies
After being honored as Life Sciences Pennsylvania’s Federal Official of the Year, Life Sciences PA was pleased to host Congressman John Joyce, M.D. (R-PA-13) for several member visits. While in southeastern Pennsylvania Congressman Joyce visited Venatorx Pharmaceuticals and Novocure. During these visits it was important to showcase the efforts of these companies and their employees to bring life-saving medicines and technologies to patients. They also served as opportunities to discuss Life Sciences Pennsylvania advocacy priorities around incentivizing research for novel antibiotics and better aligning breakthrough device designation at the Food and Drug Administration (FDA) with a reimbursement pathway at the Center for Medicare and Medicaid Services (CMS).
R&D Amortization
The Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs are set to expire on September 30, 2022. These two programs are important to Pennsylvania’s life sciences community and Life Sciences Pennsylvania sent a letter – signed by more than 45 Pennsylvania organizations – urging Pennsylvania’s congressional delegation to reauthorize these programs critical to early-stage research and development companies. Life Sciences Pennsylvania will continue to urge its legislators to include SBIR/STTR reauthorization in the reconciliation of the United States Innovation and Competition Act and America COMPETES Act passed by the U.S. Senate and House, respectively.
Drug Pricing Legislation
The World Trade Organization (WTO) Ministerial Conference (MC12) endorsed a COVID-19 vaccine intellectual property waiver Friday, June 17. Life Sciences Pennsylvania has significant concerns on the Trade-Related Aspects of Intellectual Property Rights (TRIPS) waiver that has been agreed to, especially considering the large number of excess vaccines currently available and production consistently outpacing the number of vaccines administered.
Strong, reliable, and predictable IP protections are what helped the United States’ life sciences ecosystem respond to the pandemic in record time with novel vaccines, therapeutics, and diagnostics. This is a message Life Sciences Pennsylvania continually stresses to the Pennsylvania congressional delegation as discussions around IP protections – not solely TRIPS waiver-related – come before legislators and committees of jurisdiction.
Advanced Research Projects Agency - Health
As part of Life Sciences Pennsylvania’s efforts to further collaborate with international partners, we were pleased to host a delegation from the Emilia-Romagna Region of Italy and participate in the Memoranda of Understanding signing ceremony between the region and the Commonwealth of Pennsylvania. International visits like this are an important opportunity to develop new relationships and reenforce existing relationships in what truly is a global industry. Thank you to our members who were able to participate in this discussion. We look forward to strengthening the life sciences ties between Emilia-Romagna and Pennsylvania.
New Life Sciences Caucus Co-Chairs
LSPA was pleased to host Senator Ryan Aument in Pittsburgh June 3, 2022. During the Senator’s visit he toured member company, Peptilogics and met with a roundtable of Pittsburgh-based member companies to discuss the growing life sciences ecosystem in the Pittsburgh region. We are grateful to Senator Aument and his continued support of our industry. We remain supportive of the Senator and his Building a Strong Pennsylvania initiative as he works to improve the overall business climate throughout the Commonwealth.
Budget Update
Improving the business tax policy in Pennsylvania has been a key area of focus for Life Sciences PA this budget season. There are two key areas that we have focused our efforts: increasing the Research & Development Tax Credit cap, and reducing the Corporate Net Income (CNI) rate in Pennsylvania.
Currently the R&D Tax Credit is capped at $55 million annually. This cap has been in place since 2011, despite the fact that the credit is oversubscribed by $200 million annually. LSPA would like to see this cap increased to $100 million annually, and we are grateful to both PA Senate and House leadership that have been engaged and supportive as we’ve navigated discussions for this increase.
Pennsylvania has the highest non-graduated Corporate Net Income tax in the entire country. With a CNI of 9.99% the Commonwealth is currently ranked as 44th out of 50 states in the Tax Foundation’s Corporate Tax Rank. LSPA is supportive of efforts, whether it be through this year’s budget negotiation process or through individual legislative action, to reduce Pennsylvania’s CNI.
Patient Access Legislation Update
In an important initial victory for patients and patient access to novel medicines and technologies, the Pennsylvania Senate passed SB 225 unanimously (50-0) June 29. SB 225 amends the Insurance Company Law of 1921 to provide standards for the prior authorization of health care services, exceptions to step therapy protocols, and improved transparency of health plans’ medical policies and clinical review criteria. Life Sciences Pennsylvania is proud to support this legislation and be a member of the coalition that exists to move it forward. The next phase of the legislative process is to help move HB 225 through the Pennsylvania House of Representatives before it would ultimately be signed into law by the Governor.
Prescription Drug Affordability Boards
In an important initial victory for patients and patient access to novel medicines and technologies, the Pennsylvania Senate passed SB 225 unanimously (50-0) June 29. SB 225 amends the Insurance Company Law of 1921 to provide standards for the prior authorization of health care services, exceptions to step therapy protocols, and improved transparency of health plans’ medical policies and clinical review criteria. Life Sciences Pennsylvania is proud to support this legislation and be a member of the coalition that exists to move it forward. The next phase of the legislative process is to help move HB 225 through the Pennsylvania House of Representatives before it would ultimately be signed into law by the Governor.
BUS TOUR
April 14, 2023 | Montgomery County, PA
All Life Sciences PA Members who are looking for ways to build and improve their life sciences network are encouraged to attend Making the Most of Your Membership. This program is designed as the blueprint for new and existing members to utilize their membership and educate themselves on program and event offerings while fostering connections with other LSPA member organizations. Long time members join the discussion to emphasize the many benefits of membership, and give advice on how to maximize the opportunities LSPA offers. This program is integral in immersing new member companies into the organization, as well as reintegrating any current member looking to expand their network.
ADVOCACY DAY
All Life Sciences PA Members who are looking for ways to build and improve their life sciences network are encouraged to attend Making the Most of Your Membership. This program is designed as the blueprint for new and existing members to utilize their membership and educate themselves on program and event offerings while fostering connections with other LSPA member organizations. Long time members join the discussion to emphasize the many benefits of membership, and give advice on how to maximize the opportunities LSPA offers. This program is integral in immersing new member companies into the organization, as well as reintegrating any current member looking to expand their network.
April 25, 2023 | Harrisburg, PA
SPECIAL EVENT ON ALZHEIMER'S
June 9, 2023 | Philadelphia, PA
All Life Sciences PA Members who are looking for ways to build and improve their life sciences network are encouraged to attend Making the Most of Your Membership. This program is designed as the blueprint for new and existing members to utilize their membership and educate themselves on program and event offerings while fostering connections with other LSPA member organizations. Long time members join the discussion to emphasize the many benefits of membership, and give advice on how to maximize the opportunities LSPA offers. This program is integral in immersing new member companies into the organization, as well as reintegrating any current member looking to expand their network.
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ADVOCACY PRIORITIES
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EVENTS
ANNUAL AWARDS DINNER
May 3, 2023 | Merion Cricket Club
Individuals and companies who have outstanding contributions to the industry during the past year and have dedicated their careers to achieving better outcomes for patients were honored at the intimate Annual Awards Dinner.
Congratulations to the 2023 Annual Awards Winners, and thank you for your dedication to the patients in our Commonwealth and our world.