Monday, March 28, 1994
Orphan attitude: 'We'll live with it'
Industry executives and analysts reacted with a mixture of regret and relief to the proposed changes to the Orphan Drug Act announced on Friday.
Although the industry may have believed no changes were needed in the orphan statute, initial comments from companies indicated they could live with the proposed changes negotiated by the Biotechnology Industry Organization with members of Congress who were bent on changing the law.
The proposed amendment, which does not contain a revenue cap as many had feared, also includes broad grandfather clauses.
Prefers no change
"Amgen believes the current Orphan Drug Act is working well and prefers that it remain unchanged," said Peter Teeley, vice president of government and public relations. "However, if a compromise is suggested, we support the one negotiated by the BIO."