Former Republican Congressman Jim Greenwood sees a few opportunities and a host of threats to biotech in the new Democratic Congress. In an interview with the Boston Globe, he spells out the gap between the industry and the lawmakers now in charge of the legislative process. "We favor competition," he says, "but we think that companies should be able to have 14 years of market exclusivity in order to recover their investments in R&D. If you look at the Waxman bill or the Clinton-Schumer bill, they're at zero and we're at 14, so that's a pretty big gulf."
- read this report for more
ALSO: Greenwood has been seeking to defend the industry's high prices, saying that the cost of development has to be recouped. But with some costs in the six-figures, benefit managers are looking for relief. Report
PLUS: Once again, threats of a big biotech protest meeting at BIO fizzled, with only a handful of protesters turning out. Report