BIO Statement on Retirement of Senator Orrin Hatch

BIO President and CEO Jim Greenwood issued the following statement regarding the announced retirement of Utah Senator Orrin Hatch:

“BIO joins the nation – and the great state of Utah – in applauding Senator Hatch for his many years of service, and for proving time and time again to be a strong champion for biomedical innovation.  

“As we reflect on the many policy achievements Senator Hatch has accomplished over his long and distinguished career, it’s important to consider his efforts in the health care sector which have personally touched the lives of millions of patients across the globe.  His championship of the Orphan Drug Act has led to the development of over 500 new treatments for patients with rare diseases since the law’s enactment in 1983 – and many more are in development.

“Senator Hatch has also been one of the main architects behind our balanced ecosystem of biomedical innovation with the Hatch-Waxman Act, in which innovators are rewarded with a limited period of exclusivity followed by the introduction of competitive generic products, a legacy he continued with his championship of the Biologics Price, Competition, and Innovation Act. And his support of robust funding for the National Institutes of Health has been instrumental in furthering the critical basic research undertaken by the agency.

“Senator Hatch will be sorely missed, and I offer him my most heartfelt thanks for his tireless dedication to patients and biomedical innovation. We look forward to continuing to work with him throughout the remainder of his term, and wish him well in his retirement.”