On behalf of our membership and California’s statewide life sciences community – a sector which employs over 311,000 Californians – California Life Sciences Association (CLSA) welcomes Congressman Mike Levin (D-San Juan Capistrano). We look forward to working with Congressman Levin and his team to advance policies that improve patient health and bring positive change for California patients and their families.

Late last month, House Ways and Means Committee Chairman Richard Neal (D-Mass.) and Ranking Member Kevin Brady (R-Texas), and House Energy and Commerce Committee Chairman Frank Pallone (D-N.J.) and Ranking Member Greg Walden (R-Ore.), released a discussion draft text of legislation proposing updates to reform and improve the Medicare Part D program. In coordination with our membership, CLSA submitted comments to Committee Leadership in support of the concept of a cap or limit on the amount that seniors pay out-of-pocket for prescription drugs in Part D.

In May 2019, the Securities and Exchange Commission (SEC) proposed a new rule to expand the universe of small public companies exempt from Sarbanes-Oxley (SOX) Section 404(b) to companies with annual revenues of less than $100 million. SOX 404(b) was established with the intent to protect investors against corporate fraud by increasing the quality of a company’s financial reporting via enhanced transparency and auditor oversight of internal control systems.

The PAHPAI Act is key to strengthening our country’s national preparedness and response efforts for public health emergencies and accelerating medical countermeasure research and development.