Medicines360 Applauds Sens. Rosen and Romney for Introducing Critical Legislation to Explore Benefits of Nonprofit Pharmaceutical Model

Senator Rosen has been a leading voice supporting the nonprofit pharmaceutical model

SAN FRANCISCO, June 1, 2022 /PRNewswire/ -- Last week, U.S. Senators Jacky Rosen (D-NV) and Mitt Romney (R-UT), announced the introduction of the Advancing Affordable Medicines for Families Act (S. 4341), bipartisan legislation which would direct the Government Accountability Office (GAO) to conduct a report on the impact that nonprofit drug companies would have on lowering drug costs, addressing drug shortages, and accelerating the development of new drugs. The report would also look at existing barriers to the success of nonprofit pharmaceutical organizations, and what Congress can do to support them.

"We are grateful to Sens. Jacky Rosen and Mitt Romney for their leadership in sponsoring this critical legislation designed to explore the catalytic potential of nonprofit pharmaceutical companies. Non-profit pharmaceutical organizations like ours serve as a bridge to better health by serving the public, building health equity, and filling gaps in access. Without the need to maximize profits for shareholders, nonprofits can focus on how best to stabilize supply, lower costs and improve access for people across the country. Expanding access to critical medicines and devices is at the heart of our work, and we are confident this report will show the incredible value of that mission."

Sen. Rosen has been a leading champion for the nonprofit pharmaceutical model. In 2021, Sen. Rosen introduced the Expanding Access to Affordable Prescription Drugs and Medical Devices Act (S.2257), which would improve the ability of nonprofit pharmaceutical organizations to sustainably provide affordable medicines to U.S. patients in a number of ways. It would clarify their ability to qualify for federal tax-exempt status, provide financial support to nonprofits working to develop and manufacture needed drugs, waive burdensome Food & Drug Administration (FDA) user fees, and provide new opportunities for priority FDA review for certain drugs made by nonprofits.

Medicines360, located in San Francisco, California, is a global nonprofit women's health pharmaceutical organization with a mission to remove cost as a barrier to health by developing and providing affordable women's health products. Medicines360 is committed to working with healthcare providers, advocacy groups and patients to deliver innovative and meaningful treatments that help women around the world have greater access to the medicines they need. For more information, visit www.medicines360.org

SOURCE Medicines360

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