Republican cautions biotech community

If the biotechnology industry doesn't do a much better of communicating with American lawmakers, it could inadvertently be crushed by legislation aimed at reining in big pharmaceutical companies, Rep. Bill Thomas (R-Calif.) warned today. Thomas emphasized the negative view about drug companies held by most members of Congress and said that few politicians differentiate between pharmaceutical and biotech companies. There is tremendous political pressure to control drug prices and little understanding of the potential negative effects on capital formation and innovation in the biotech sector, he said. "You don't have an identity (on Capitol Hill). They don't know who you are," said Thomas, who is chairman of the Ways and Means Committee's subcommittee on health.

Thomas advised biotech companies to ensure that members of Congress know when they develop innovative, life-saving products, "otherwise pharmaceutical companies will try to make people think it is their product." He advised the biotech industry to differentiate itself by taking positions on some high-profile issues against the pharmaceutical industry. ...