Lilly supports the Pathway for Biosimilars Act

Lilly supports new legislation that will preserve incentives for biotechnology innovation, it has claimed.

The Pathway for Biosimilars Act will balance the needs of patients and stakeholders by encouraging greater competition and fostering investments that will produce more high-paid jobs in the field, according to the company.

Patents can currently shelter medicines from generic copies, but effective protection is sometimes only available for a limited time once a new treatment is available on the market.

The latest legislation would offer all the latest biological drugs a base period of 12 years of data security.

Robert Armitage, Lilly’s senior vice-president and general counsel, remarked making discoveries in the industry required many years of research, financial support and high levels of risk.

“This bill makes certain that innovator companies can continue to make these types of investments in new therapies,” he commented.

“Once a reasonable period of time has passed for recouping its investment, generic companies can copy those innovations in a safe, scientifically sound manner.”

Earlier this month, the firm’s senior vice-president of human resources Anthony Murphy announced his retirement.