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BIO Says Patent Reform Legislation Not Ready for a Vote

BIO Says Patent Reform Legislation Not Ready for a Vote

Biotechnology Industry Organization (BIO) President and CEO Jim Greenwood released the following statement today rejecting claims made by a group of high tech and communications lobbyists that patent reform legislation is close to ready for consideration by the full Senate:

“BIO has been working constructively with interested Senators and stakeholders, and we are unaware of any ‘deal’ on patent reform, or that a consensus deal is close to being finalized. A wide range of industries, labor unions and universities continue to have serious concerns about key provisions of the Patent Reform Act, S. 1145, including the apportionment of damages, post-grant review and real inequitable conduct reform.

“The potential negative impact of a poorly crafted bill on the U.S. economy and our global competitiveness is too great to proceed with a vote before ensuring that the legislation will truly enhance our nation’s patent reform system across all industries.

“BIO remains committed to working with Senators, their staff, and other stakeholders to reach a consensus on these key provisions, and to then move that consensus product to the Senate floor. We continue to urge the Senate to take these concerns seriously and to make needed changes to the legislation before bringing it to the floor for a vote.”

About BIO

BIO represents more than 1,200 biotechnology companies, academic institutions, state biotechnology centers and related organizations across the United States and in more than 30 other nations. BIO members are involved in the research and development of innovative healthcare, agricultural, industrial and environmental biotechnology products. BIO also produces the annual BIO International Convention, the world’s largest gathering of the biotechnology industry, along with industry-leading investor and partnering meetings held around the world. www.bio.org

Upcoming BIO Events

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BIO-Europe Spring

April 7-9, 2008
Madrid, Spain
 
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BIO National Venture Conference

April 22-23, 2008
Boston, MA
 
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World Congress on Industrial Biotechnology & Bioprocessing

April 27-30, 2008
Chicago, IL
 
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BIO International Convention

June 17-20
San Diego, CA

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