On June 23, USISPF hosted a virtual briefing with Congressman Ami Bera on the challenges faced by U.S. biopharmaceutical and health care companies in India, as well as opportunities for collaboration between U.S. and India in these sectors. Many USISPF member companies who are leaders in the pharmaceutical, medical device, and health care sectors participated in the discussion.
In his opening statements, Rep. Bera highlighted the need for countries to work together rather than turn to protectionism in the face of COVID-19 and the global economic downturn. He also pointed to the current situation as an opportunity for the U.S. to deepen its relationship with India, both through investments as the U.S. – alongside many other countries – seeks to diversify its supply chain in light of the COVID-19 pandemic’s disruptions to existing supply chains and critical infrastructure, and through collaboration on a COVID-19 vaccine and research.
The key issues raised by USISPF member companies regarding the challenges they face in India include barriers to market entry, weak intellectual property (IP) protections, and product pricing controls. Kate Beale, Associate Vice President of PhRMA, who moderated the discussion, also identified the bilateral trade dynamic, pro-innovation policy, and the broader health care access discussion as priorities for the U.S.-India relationship in the pharmaceutical sector. Participants also highlighted opportunities for the two countries to deepen ties through research collaboration and vaccine development.