President Obama Announces Increased NIH Funding

Historic $5 Billion Boost to NIH Research Will Benefit American Health, Provide Jobs and Help Improve U.S. Economy, Says Council for American Medical Innovation

WASHINGTON, D.C. (October 1, 2009) - The Council for American Medical Innovation applauded President Obama today for committing $5 billion in funding from the American Recovery and Reinvestment Act of 2009 to the National Institutes of Health (NIH) for cutting edge medical research.  The President made the announcement yesterday morning at the NIH campus in Bethesda, Maryland, and called the funding “the single largest boost to biomedical research in history.”

“This significant increase in funding for NIH research is an exciting step in the right direction for American medical innovation, and a good sign that we are once again putting science in its rightful place,” said Richard Gephardt, Chairman of the Council for American Medical Innovation.  “Investing in medical research is important to our economy and our nation’s health.  It gives us hope that we will discover cures for cancer and other life-threatening conditions; it keeps our workforce healthy and productive, and provides a wide array of some of the best paying jobs in the economy.  The Council for American Medical Innovation loudly applauds the President’s initiative.”

President Obama emphasized the importance of the NIH in his remarks and said, “For decades, the NIH has been at the forefront of medical invention and innovation, helping to save countless lives and relieve untold suffering.  And yet, if we're honest, in recent years we've seen our leadership slipping…and research funding failed to keep pace.”

The Council for American Medical Innovation believes that being a leader in scientific and technological innovation, including medical innovation, is critical to U.S. economic strength and growth. 

In addition to promoting continued leadership in medical science and discovery, this investment is expected to create tens of thousands of new jobs.  President Obama remarked, “It's not just about creating make-work jobs. It's about creating jobs that will make a lasting difference for our future.  From the beginning, our goal has been to rescue the economy, at the same as we're laying a new foundation for lasting economic growth.”

The $5 billion from the Recovery Act will fund 12,000 grants over the next two years, speeding scientific discovery and laying a strong foundation for the innovation economy of the future.  The grant awards will support the full spectrum of medical research—from basic research to clinical and translational studies.

“Basic scientific research is greatly important and needs support, but we are also very encouraged to hear some of the funding will go toward clinical and translational research studies,” said Gephardt. “Translational research is a critical step in the innovation process.  This is where the incredible discoveries our scientists make in the laboratory are turned into working medicines, therapies and devices that help patients and provide cures.”

About the Council for American Medical Innovation

The United States faces serious challenges to maintaining its leadership position in innovation.  The Council for American Medical Innovation is bringing together leaders in research, medicine, public health, academia, education, labor, and business, who are working in partnership toward a national policy agenda aimed at preserving U.S. leadership in medical innovation.  American medical innovators create millions of high-paying jobs, and their discoveries are integral in the fight to cure cancer and other illnesses.  The Council for American Medical Innovation views leadership in medical innovation as a key part of America's economic recovery, future prosperity and health.

For more information on the Council for American Medical Innovation, visit www.americanmedicalinnovation.org.

Follow us on Twitter @Med_Innovation

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