Washington, D.C. – The National Hispanic Council on Aging (NHCOA) releases the following statement regarding the introduction of the Bill to Protect Small Biotech Companies:
“The National Hispanic Council on Aging (NHCOA) strongly supports the “Small Biotech Innovation Act“ sponsored by Senator Bill Cassidy and co-leads Congressman August Pfluger and Congressman David Kustoff. This important legislation would incent eligible small biotech manufacturers to invest in innovative new therapies and cures that will help patients suffering with chronic or complex diseases, many of which disproportionately impact the Hispanic aging community. NHCOA supports a robust research environment that helps – rather than hinders – companies with one or only a few commercial products that could prove lifesaving for so many patients. We don’t want these small companies to stop investing in R&D after one blockbuster drug, which could happen under the Inflation Reduction Act (IRA) with its limited small biotech exception that expires in 2029. We commend Senator Cassidy and Rep. Pfluger for looking out for our Hispanic seniors with this policy that incentivizes those small biotech companies that are willing to keep investing in R&D to keep innovating so more patients in our community will benefit from focused investments in new cures that they desperately need.”
– Dr. Yanira Cruz, President and CEO of the National Hispanic Council on Aging (NHCOA).
About NHCOA: NHCOA is the leading national organization working to improve the lives of Hispanic older adults, their families, and their caregivers. Headquartered in Washington, DC, NHCOA has been a strong voice dedicated to promoting, educating, and advocating for research, policy, and practice in the areas of economic security, health, and housing for Hispanic older adults, families, and caregivers for the last 51 years. For more information about NHCOA call 202-347-9733 or visit www.NHCOA.org.
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