“AdvaMed continues to support additional efforts to make the research and development tax credit permanent and establish R&D partnerships under the tax code. These proposals will encourage R&D here in America. R&D is a critical element of industry leadership and growth in the medtech sector.
“The study demonstrates that CMS’s coverage of medical interventions through national coverage determinations since 1999 has become more restrictive. Chambers, et al., found that medical interventions in the most recent time period analyzed were 20 times less likely to receive a positive national coverage determination compared to 10 years ago."
Andrew Fish, executive director of AdvaMedDx, issued a statement today in response to President Barack Obama’s newly announced Precision Medicine Initiative.
“AdvaMed would like to commend Sens. Alexander and Burr for their leadership on this important issue. We share their goal of improving the efficiency and predictability of processes at both NIH and FDA to ensure patients have timely access to the latest medical advancements."
“The reduction in R&D is especially troubling as investments in research today are the cures and treatments of tomorrow. The effects of this tax could have a damaging ripple effect for decades to come if left unaddressed. This tax is not just a tax on medical technology companies. It’s a tax on medical progress. "
“AdvaMed welcomes reforms that India is pursuing to make it easier to do business in India, including a recent change in Foreign Direct Investment policy that clears the way for greater foreign participation and investment in India’s medical device market, and we are encouraged by continuing efforts to create an appropriate regulatory framework for devices distinct from pharmaceuticals. "
“AdvaMed commends Chairman Upton and Congresswoman DeGette for their leadership on the 21st Century Cures initiative. We share their goal of accelerating the discovery, development and delivery of cures for patients, and we applaud their leadership on this important issue.
“AdvaMed applauds the president’s ongoing support for international trade. U.S. medical technology manufacturers need a level playing field to retain their global leadership. We look forward to supporting a strong and ambitious Trans-Pacific Partnership (TPP) that includes solid provisions on transparency and procedural fairness, and addresses important technical regulatory barriers."
“This tax is an anchor on American economic growth. Our industry has long been an engine of growth, driving medical innovation and producing well-paying manufacturing and advanced science and technical jobs. That’s why there is broad bipartisan support to repeal this tax and we urge Congress to act quickly,” said Stephen J. Ubl, President and CEO of AdvaMed. “Today’s news that U.S. leadership in medical research is eroding underscores the need to address this tax quickly before further harm is done.”
The Advanced Medical Technology Association (AdvaMed) and RCT Ventures announce that the 2015 finals of the MedTech Innovator competition, which identifies and rewards outstanding early-stage medical device companies, will take place at AdvaMed 2015: The MedTech Conference, October 5-7 in San Diego.