The Information Technology and Innovation Foundation (ITIF) notes that the Obama administration’s fiscal year (FY) 2015 budget proposes a near 4-percent decline in funding for the National Institutes of Health and claims that, if approved, it would “exacerbate a growing divide in critical investments in biomedical research between the united states and our global competitors.” ITIF, a non-profit think tank that promotes policies to advance innovation and productivity internationally, also contends that the president’s proposal to reduce data protection for biologic drugs from 12 years to seven would inflict significant damage on the developers of innovative biopharmaceuticals.
The organization concludes, “The united states cannot continue to simply assume that leading in key innovative industries such as life sciences or medical devices is its birthright. . . . Policymakers must be constantly attentive to implementing effective policies that support the competi- tiveness of these industries. . . . The president’s FY 2015 budget proposal needs to achieve much more” in terms of funding and “ensuring that regulatory policies are attuned to both protecting consumers while also supporting the competitiveness of innovative U.S. industries.” See InnovationFiles.org, March 14, 2014.