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Our Stance on Most Favored Nation Policy; Reconciliation Package Moves through Congress; Updates on California’s Budget and AB 1460; SF’s Planning Director Steps Down; Upcoming Greater LA Policy Committee Meeting; and more.
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Biocom California Opposes MFN Price Setting Policy
Last week, Biocom California president and CEO Tim Scott issued a statement opposing the president’s executive order (EO) on Most Favored Nation (MFN) pricing. The MFN policy would link the prices of medicines sold in the United States to those in foreign countries, ignoring significant differences among global health care systems. The EO threatens to propose MFN pricing through unspecified rulemaking if manufacturers do not agree to price controls set by the Health and Human Services secretary within 30 days.
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Advocating for Our Members
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Federal ► “One Big Beautiful Act” Reconciliation Package Moves through Congress
- The Energy & Commerce Committee and Ways & Means Committee marked up their portions of the reconciliation package, the “One Big Beautiful Act”, allowing Congress to advance the President’s priorities without Democratic support. The House is expected to bring the bill to the floor Thursday, before the GOP’s self-imposed Memorial Day deadline.
- The measures include four Biocom California priorities: restoring companies’ ability to deduct the entirety of their R&D expenses in the year they were incurred, increasing the SALT cap, Pharmacy Benefit Managers (PBMs) reform and the ORPHAN Cures Act.
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State ► Updates on California’s Budget and AB 1460
- Governor Gavin Newsom released the May revision to the state budget, tying California’s $12 billion budget deficit to actions in Washington, D.C. Due to this, the state’s R&D Tax Credit and Net Operating Loss deductions, suspended in last year’s state budget, likely won’t be reinstated earlier than planned, but the refundability Biocom California negotiated is secure.
- Biocom California is opposing Assemblymember Rogers’ AB 1460 which would limit transparency and controls within the Federal 340B discount drug program, creating danger to the program overall and potentially leading to reduced access to lifesaving medicines.
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Bay Area ► San Francisco’s Planning Director to Step Down
- San Francisco Planning Director Rich Hillis will step down in mid-July after more than five years in the role and 25 years of city service. Hillis led major rezoning efforts and streamlined housing approvals amid the pandemic.
- Biocom California works closely with the planning department on zoning issues and changes and looks forward to working with Hillis’ replacement.
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- Join us for the next Greater LA Policy Committee meeting on Thursday, May 29, from 10 to 11 a.m. at HMRI in Pasadena. Hear from LA County’s Department of Economic Opportunity on its upcoming life science report, plus legislative updates.
- While in-person attendance is encouraged, virtual accommodations are available for nonlocal members. RSVP here or email Casey O’Neill.
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San Diego ► Biocom California PAC Hosts Annual Staff Appreciation Reception
- Last week’s annual San Diego Legislative Staff Appreciation Reception brought together over 50 members and representatives of elected officials to give our members an intimate setting to thank staff for their hard work.
- Special thanks to Longfellow and SDG&E for sponsoring the event. Learn more about the Biocom California PAC.
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Federal:
- The Trump Administration released its “skinny” budget for Fiscal Year 2026, which proposes a 26.2% cut to the HHS budget and includes an almost $18B cut to the NIH, $3.6B cut to the CDC and a $674M cut to CMS.
- The U.S. will decrease the 145% tariff on most Chinese imports to 30% and China will cut its 125% tariff on U.S. goods to 10% during a 90-day negotiation period.
- Biocom California submitted comments responding to the Commerce Department’s Section 232 investigations on pharmaceuticals.
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State:
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Biocom California Advocacy
Biocom California is the largest, most experienced leader and advocate for California’s life science sector. Our public policy staff is strategically located in the Bay Area, Los Angeles, San Diego, Sacramento and Washington, D.C. We work with federal, state and local governments to collectively pursue outcomes that benefit regional life science growth and contribute to a more innovation-friendly state.
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