March 8, 2021
HB 6447 An Act Creating the Covered Connecticut Program to Expand Access to Affordable Healthcare
TO: Committee on Insurance and Real Estate
RE: HB 6447 An Act Creating the Covered Connecticut Program to Expand Access to Affordable Healthcare
Dear Committee members:
I am writing today on behalf of the Chamber of Commerce of Eastern Connecticut in regard to HB 6447 An Act Creating the Covered Connecticut Program to Expand Access to Affordable Healthcare. Efforts to provide access to quality and affordable healthcare are important and ultimately benefit our residents and businesses. However, it is essential that, as we navigate this complex issue, the proposed legislation does not result in unintended consequences of stifling research and innovation that provides cures and treatments on which we rely.
The impacts of the COVID pandemic provide a stark reminder of the critical role the biopharmaceutical industry plays in the health and wellbeing of our families, friends, and the conduct of our day-to-day lives. Through research and innovation, stemming from knowledge gained through decades of investment, the biopharmaceutical industry designed, tested and manufactured vaccines that will save millions of lives and offer a return to normal life for families, schools, businesses, and communities.
We are proud that Connecticut companies, such as Pfizer, were leaders in this research. As a state, we have encouraged development of this industry and research community in Connecticut and we understand the many benefits we derive from being home to these global innovators. It is important that we understand the far-reaching impact price setting will have on this vital industry and their continued investment in critical research addressing many conditions and diseases. It is for this reason that we express our concern with provisions of the bill that may stifle research and innovation before enacting proposed bill HB6447.
To this end, I urge you to carefully review the implications of the sections of HB6447 and the broader impacts pharmaceutical price setting will have on the health our state and our citizens.
President and CEO, Chamber of Commerce of Eastern Connecticut
March 8, 2021