Obama signs 21st Century Cures Act

WASHINGTON — President Barack Obama on Tuesday signed the 21st Century Cures Act into law in a ceremony at the White House, where he introduced by Vice President Joe Biden. The act, one of the last the outgoing president is expected to sign, will invest more than $6 billion over seven years to provide funding for various initiatives, including fighting prescription drug abuse, expanding the president’s Precision Medication Initiative and funding the “cancer moonshot,” aimed at finding new and better treatments for cancer. 

 

“Without true bipartisan support this legislation would have never occurred and it’s going to help millions of people,” Biden, whose son, Beau died of cancer in 2015, said. “The 21st Century Cures Act is going to harness America’s best minds, science, medicine and technology to tackle some f our biggest and most complex health challenges today.”

 

When the Senate passed the bill 94-5 on Dec. 7, Senate Majority Leader Mitch McConnel, R-Ky., moved to have the section with funding for the cancer initiative after Beau Biden. The bill has been praised by various industry players, including the Pharmaceutical Research and Manufacturers of America, the Generic Pharmaceutical Association and the Biotechnology Innovation Organization. 

 

“The 21st Century Cures Act ... is an important victory for medical innovation that will help expedite the development of the next generation of breakthrough medicines to save lives and reduce suffering for millions of patients, while helping to lower other healthcare costs,” BIO president and CEO James Greenwood said when the bill passed the Senate. “We applaud the work of the Senate for making sure that this important legislation remained a priority. We particularly want to recognize Senate Health, Education, Labor and Pensions (HELP) Chairman Lamar Alexander and Ranking Member Patty Murray, as well as the members of the Committee, for their tireless, bipartisan cooperation in crafting this important legislation”