Known by its clever acronym, you’ll find “PhRMA” in the news and in the mix whenever the conversation turns to issues affecting the biopharmaceutical industry.
PhRMA is short for the Pharmaceutical Research and Manufacturers of America, which represents leading companies that research and produce medicines. All told, those companies have invested about $1 trillion in the search for new treatments and cures over the last 20 years, according to the Washington, D.C.-based organization.
CSL Limited CEO Paul Perreault recently joined PhRMA’s Board of Directors and was interviewed by PhRMA President and CEO Stephen J. Ubl. In the conversation, Perreault discussed how CSL is working around the globe to fight COVID-19.
“The role of science in solving problems has been highlighted like never before and I think this crisis has shown us that we are more resilient and adaptable than we ever imagined ourselves to be,” Perreault said.
CSL Limited, whose medicines and vaccines serve patients and protect public health, joined PhRMA in December 2020. With more than 27,000 employees worldwide, CSL includes CSL Behring, which develops medicines for rare and serious diseases, and Seqirus, a leading producer of influenza vaccine.
PhRMA says its mission is to “encourage the discovery of important, new medicines for patients” by advancing public policy in the United States and around the world. So far in 2021, the organization has released a variety of statements on issues that impact biopharmaceutical companies, including COVID-19 vaccines, how hospitals price medicines and Medicaid policies.
PhRMA’s more than 30 member companies include Merck, Johnson & Johnson, AstraZeneca, Pfizer and Bristol Myers Squibb.
In announcing CSL’s membership in PhRMA, Ubl said, “Their resolute pursuit of new treatments and cures that can better the lives of patients will assist our association as we work with policymakers and stakeholders on common-sense policy solutions to improve the health care system.”