New ad campaign defends drug industry's pricing tactic

In response to increased scrutiny regarding the price of pharmaceuticals, the Biotechnology Innovation Organization launched a national ad campaign contending that expensive biotech drugs will reduce healthcare expenses in the long run by curing diseases, according to The Hill.

The ad is called "Innovation Saves" and highlights the benefits of biologics for patients and the healthcare system. BIO, a lobbying group for drugmakers, said the campaign cost "mid-seven figures," according to the report.

"Thanks to a system that encourages reinvestment in research, advances in biopharmaceutical medicines have lessened the need for hospital stays, they are reducing the number of surgeries, and for many they are delivering cures," the ad asserts. "So along with saving, extending and improving lives, these remarkable innovations can help save healthcare costs."

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6 states file civil rights complaints against insurers over HIV drug costs

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