BIO implements Principles of the Value of Biopharmaceuticals

The Biotechnology Innovation Organization (BIO) announced this week that it has released new Principles on the Value of Biopharmaceuticals, which are the first of their kind.

These principles, which are strictly voluntary, embody a set of commitments by biopharmaceutical companies whose main focus is research to accept comprehensive and maintainable results to increase patient access to affordable medicines.

The announcement of these principles is an industry-wide commitment to advance the health and wellbeing of patients by developing innovative medicines to treat once-devastating diseases. It is a way to provide patients with more accessibility to these types of treatments and cures.

BIO is dedicated to keeping an open dialogue with health-care providers, patients and buyers on the quality of their biopharmaceutical advancements. It is committed to take into account the stakeholders’ views and opinions on the production and administering of these care options and treatments. BIO has also stated that it will continue to work with stakeholders and policymakers to research a wide variety of methods to maximize the quality of these new health innovations for its patients and the health-care system as a whole. This includes the removal of legal barriers that currently prohibit communications and potential contracts.