Innovation and Technology

Washington, D.C. – National Association of Manufacturers President and CEO Jay Timmons released the following statement on the administration’s proposed rules to address drug pricing.

“We should not import failed socialist price controls, and we are surprised that President Trump and Secretary Azar would consider such actions. Our battle with COVID-19 shows just how vital pharmaceutical innovation is to our health and survival, and we cannot afford to limit companies’ ability to develop lifesaving treatments for this or future medical crises.

“Importing drugs from foreign countries that don’t guarantee the same standards for drugs made for the U.S. market poses a serious health risk, especially considering the counterfeiting challenges we already face.

“If enacted, tying any portion of our system to a foreign government-run health care system, through International Price Indexing or other means, is an abdication of free market principles.

“Manufacturers of all sectors are committed to lowering health care costs, and we call on the administration to commit to better market-based solutions that won’t hand over private-sector decisions to foreign governments, potentially impacting Medicare recipients and impacting our ability to help provide lifesaving medicines.”

-NAM-

The National Association of Manufacturers is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs more than 11.7 million men and women, contributes $2.37 trillion to the U.S. economy annually and has the largest economic multiplier of any major sector and accounts for 63% of private-sector research and development. The NAM is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the NAM or to follow us on Twitter and Facebook, please visit www.nam.org.

Business advocates and policymakers have a new tool for waging an aggressive effort against counterfeiting during the pandemic and beyond. The NAM has released a new report, “Countering Counterfeits,” which includes proposed solutions for Congress, the administration and the private sector to pursue.

The numbers: According to the NAM’s research, fake and counterfeit products cost the United States $131 billion and 325,000 jobs in 2019 alone.

The rising tide: The rise of e-commerce has caused an explosion in fake products, particularly from China. E-commerce has created a pipeline to consumers that counterfeiters can exploit while hiding their identities and evading oversight. Estimates now indicate that global trade in counterfeits exceeds $500 billion per year.

The plan: The NAM’s proposal pushes for a series of actions to help curb counterfeiting, including:

• Requiring e-commerce platforms to reduce the availability of counterfeits;
• Modernizing enforcement laws and tactics to keep pace with counterfeiting technology;
• Streamlining government coordination to tackle counterfeit items;
• Improving private-sector collaboration; and
• Empowering consumers to avoid counterfeit goods.

The NAM says: President and CEO Jay Timmons said in his introduction to the report, “The prevalence of counterfeits in the COVID-19 response has brought new urgency to this long-simmering issue. So the National Association of Manufacturers is leading the charge against fake and counterfeit goods, bringing together diverse stakeholders and driving innovative policy solutions to address these issues once and for all and to ensure the long-term success of our sector and the safety and security of the people who rely on our products.”

The new report from the ITI Foundation offers strategies to maintain U.S. strength, spur greater innovation and increase domestic production.

U.S. policies spur success: “America still leads in innovation and drug development, in large part due to effective life-science policies, including significant federal investment in life-sciences basic research, robust intellectual property (IP) protections, effective technology transfer policies, investment incentives, and, importantly, drug pricing policies that enable companies to invest in high-risk drug development.”

Recommendations for policymakers: The paper suggests U.S. policymakers should focus on four key areas:

• Maintaining U.S. strength in pricing, tech transfer and intellectual property—and avoiding oppressive drug price control schemes that damage competitiveness;
• Boosting innovation through investment and additional tax incentives that promote research and development;
• Increasing domestic production, including via tax credits and additional funding for key research institutions; and
• Combating foreign mercantilism by making sure that America’s trading partners pay their “fair share” for new drugs, treatments and other medical products.

Innovation in the time of COVID-19: At a time when U.S. pharmaceutical companies are central to the fight against a global pandemic, the ability to innovate successfully is of paramount importance. The U.S. House Committee on Energy and Commerce held a hearing on Tuesday that discussed the issue, titled “Pathway to a Vaccine: Efforts to Develop a Safe, Effective and Accessible COVID-19 Vaccine.”

The NAM says: “The research ecosystem we have in the United States supports a global leadership position of biopharmaceutical innovation,” said NAM Vice President of Infrastructure, Innovation and Human Resources Policy Robyn Boerstling. “Manufacturers are committed to building upon that innovation—but it’s clear that government-led pricing restrictions and importing bad health care policies used by our competitors is not the way forward.”

Related . . . The NAM has launched a new six-figure television and digital ad campaign aimed at potential rules to address drug pricing through International Price Indexing and drug importation.

Today, the National Association of Manufacturers announced the launch of NAM Cyber Cover, an exclusive cybersecurity and risk mitigation program for its member companies and organizations. This critically important and timely offering was developed in partnership with AHT Insurance and Coalition, which specializes in underwriting cyber and technology insurance.

“Modern manufacturers are deploying advanced technologies that are transforming what we make and how we make it. This rapid digitization and the workplace disruptions created by the COVID-19 pandemic have created new and unprecedented risks for our members,” said NAM President and CEO Jay Timmons. “Our partnership with AHT and Coalition will help protect our industry from cyberattacks and ensure we can continue to lead our economic recovery and renewal.”

According to a recent Wall Street Journal article, nearly two-thirds of manufacturers currently have no cyber insurance, and many manufacturers have no plans to invest in improved cybersecurity measures or data protection efforts. Recognizing the significant threat cyber vulnerabilities pose to its diverse membership, the NAM led the creation of Cyber Cover.

“The inimitable exposures manufacturers face, coupled with an unrelenting target on the industry, necessitates a pivot in how cyber programs are structured,” said AHT President and CEO David Schaefer. “We look forward to helping NAM members make that pivot to manage risks up front and protect themselves against cyberattacks.”

NAM Cyber Cover offers full support for responding to and recovering from potential risks and cyberattacks, differentiating it from traditional, standalone insurance.

“Manufacturers are more reliant on technology than ever before and more in need of a solution to survive catastrophic security failures and data breaches,” said Coalition Founder and CEO Joshua Motta. “We’re proud to partner with the NAM and AHT to revolutionize the way manufacturers mitigate cyber risk, providing security tools to prevent incidents and incident response support to mitigate losses, together with the safety of insurance.”

To learn more about NAM Cyber Cover, visit www.namcybercover.org

-NAM-

The National Association of Manufacturers is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs more than 11.7 million men and women, contributes $2.37 trillion to the U.S. economy annually and has the largest economic multiplier of any major sector and accounts for 63% of private-sector research and development. The NAM is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the Manufacturers or to follow us on Twitter and Facebook, please visit www.nam.org.

–About AHT Insurance–

AHT Insurance is a brokerage and consulting firm offering property and casualty, employee benefits, retirement, personal and international services for a wide range of industries—notably receiving national recognition for its practices in areas including technology, manufacturing, government contracting and nonprofits. https://www.ahtins.com

–About Coalition–

Coalition combines comprehensive insurance and free cybersecurity tools to help businesses manage and mitigate cyber risk. Backed by A+/A rated insurers Swiss Re Corporate Solutions and Argo Group, Coalition provides companies with up to $10 million of cyber and technology insurance coverage in all 50 states and the District of Columbia. https://www.coalitioninc.com

Washington, D.C. – The National Association of Manufacturers has released a detailed agenda of supply chain policy recommendations to help policymakers as Congress and the administration look at ways to boost long-term economic growth. Manufacturers are also launching a seven-figure national advertising campaign on the importance of U.S. supply chains in the wake of COVID-19. The national television and digital advertising campaign urges leaders to make smart policy decisions that incentivize job creation and investment in America, without closing off critical global supply chains. Such a constructive approach will enable manufacturers to lead America’s recovery and renewal while continuing to produce the vital supplies, medicines and essential products on which Americans’ health and safety depends.

The policies that we are proposing will allow manufacturers to lead our economic recovery by strengthening supply chains and accelerating onshoring, through incentives for creating the next job or investing the next dollar right here in America. We also cannot close off access to critical components or resources that our lifesaving and life-changing products require, said NAM President and CEO Jay Timmons. Manufacturers are working around the clock to create the protective equipment, cleaning supplies, medicines and other essential products in the wake of COVID-19, and we need the right policies so we can make even more here at home and lead a truly historic American renewal.

In April, the NAM released its “American Renewal Action Plan,” which provides a comprehensive list of policy recommendations to guide the country through the stages of response, recovery and renewal.

More information on the campaign can be found at www.nam.org/recovery.

-NAM-

The National Association of Manufacturers is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs nearly 11.5 million men and women, contributes $2.38 trillion to the U.S. economy annually, has the largest economic multiplier of any major sector and accounts for 63% of private-sector research and development. The NAM is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the Manufacturers or to follow us on Shopfloor, Twitter and Facebook, please visit www.nam.org

Washington, D.C. – National Association of Manufacturers President and CEO Jay Timmons released the following statement on the NAM being included in President Trump’s Great American Economic Revival Industry Groups.

“Throughout this crisis, manufacturers have been leading the way. Much of the sector has been fully operational, making critical personal protective equipment, medical supplies and ventilators, in addition to producing food and household essentials. Manufacturers have many examples of safe and healthy practices to share.

“Throughout the past month, the NAM has provided the White House, FEMA, the Coronavirus Task Force, DHS and other agencies with our legislative solutions for economic stabilization and future growth, as well as a database of available PPE supply and connecting the supply chain with OEMs.

“Over the past three years, manufacturers have produced impressive gains in investment, job creation and wage growth here in the United States. As the nation prepares to move from relief to recovery and bringing our $22 trillion economy out of its ‘induced coma,’ I look forward to working with the Great American Economic Revival Industry Groups, including the 44 NAM member companies that were also named, to drive this next phase of American renewal, while putting the health and well-being of the American people first. Ultimately, manufacturers, the backbone of this economy, want to be able to invest, grow and hire—right where we left off.”

-NAM-

The National Association of Manufacturers is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs more than 12.8 million men and women, contributes $2.37 trillion to the U.S. economy annually and has the largest economic multiplier of any major sector and accounts for 63% of private-sector research and development. The NAM is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the Manufacturers or to follow us on Twitter and Facebook, please visit www.nam.org.

Washington, D.C. – The National Association of Manufacturers and Business Roundtable are joining forces to strengthen the business community’s response to the critical supplies shortage facing the nation’s medical community due to COVID-19. The partnership brings together the full strength of the U.S. business and manufacturing communities to help those on the front lines of the pandemic. NAM President and CEO Jay Timmons and Business Roundtable President & CEO Joshua Bolten will serve as co-chairs of this effort.

The NAM and Business Roundtable will help consolidate efforts across industry sectors in the United States and report the data to the federal government. The NAM and Business Roundtable are encouraging their members to share information on medical supplies and equipment, including personal protective equipment and test kits, through a co-developed online survey. The data will capture existing supplies as well as where new manufacturing capacity can be tapped to address shortages nationwide.

Upon announcement of this partnership, Vice President Mike Pence offered the following statement:

“Our nation’s job creators have embraced President Trump’s ‘whole-of-America’ response to the coronavirus outbreak and have quickly mobilized to find innovative solutions for the challenges ahead of us,” said Vice President Mike Pence. “From coast to coast, America’s businesses have brought a truly extraordinary response to this moment, and they should be commended for answering the call and being part of the solution.”

Upon announcement of this partnership, Bolten and Timmons released the following statements:

“Only through a concerted effort can this country address the current shortages of critical medical supplies and equipment,” said Bolten. “Working with our members to identify excess inventories as well as additional manufacturing bandwidth is one way we can help those on the front lines of the fight against COVID-19. Our goal is to keep all Americans healthier and safer.”

“Manufacturers in America are reigniting the ‘arsenal of democracy’ and mobilizing to help our nation overcome this historic crisis, and it is inspiring to see thousands of manufacturers stepping up to join the fight over just the past two weeks,” said Timmons. “By combining the NAM’s nationwide efforts with the work of Business Roundtable, we will be even more effective in our vital work. We are coordinating directly with the administration and manufacturing leaders to identify existing equipment and ramp up production of urgently needed health supplies. America’s creators will respond to this challenge, just as we have throughout history. We are all in this together as we fight to keep our country healthy and strong.”

-NAM-

The National Association of Manufacturers is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs more than 12.8 million men and women, contributes $2.37 trillion to the U.S. economy annually and has the largest economic multiplier of any major sector and accounts for 63% of private-sector research and development. The NAM is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the Manufacturers or to follow us on Twitter and Facebook, please visit www.nam.org.

-BRT-

Business Roundtable CEO members lead companies with more than 15 million employees and $7.5 trillion in revenues. The combined market capitalization of Business Roundtable member companies is the equivalent of over 27 percent of total U.S. stock market capitalization, and Business Roundtable members invest nearly $147 billion in research and development – equal to over 40 percent of total U.S. private R&D spending. Our companies pay $296 billion in dividends to shareholders and generate $488 billion in revenues for small and medium-sized businesses. Business Roundtable companies also make more than $8 billion in charitable contributions.

Washington, D.C. – The National Association of Manufacturers released the findings of a survey of manufacturing leaders examining the economic and operational impacts of COVID-19. This survey informed the NAM’s “COVID-19 Policy Action Plan Recommendations” released earlier this week, which highlighted key policy areas where legislative and administration action would help combat COVID-19 and future public health emergencies successfully.

Survey highlights include the following:

• 78.3% of manufacturers anticipate a financial impact
• 53.1% of manufacturers anticipate a change in operations
• 35.5% of manufacturers are facing supply chain disruptions

“Already, manufacturers are grappling with disruptions to their businesses due to the COVID-19 outbreak, with many anticipating financial and operational consequences—even before some of the developments of this week. The federal government can take steps to further equip manufacturers to deal with COVID-19 by implementing the NAM’s ‘COVID-19 Policy Action Plan Recommendations,’” said NAM President and CEO Jay Timmons. “Across the country, manufacturers are stepping up to keep their employees and their communities safe and healthy, and working closely with elected officials, we can ensure the resilience not only of our companies but also our country.”

Read the full survey results here.

-NAM-

The National Association of Manufacturers is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs more than 12.8 million men and women, contributes $2.37 trillion to the U.S. economy annually and has the largest economic multiplier of any major sector and accounts for 63% of private-sector research and development. The NAM is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the Manufacturers or to follow us on Twitter and Facebook, please visit www.nam.org.

Washington, D.C. – The National Association of Manufacturers is calling on the federal government to take legislative and administrative steps to equip manufacturers to respond to COVID-19 and future public health emergencies, including specific actions in five key policy areas.

“When our country faces difficult challenges, manufacturers strive to be the solution,” said NAM President and CEO Jay Timmons. “For the good of our communities and our country, we are committed to bringing people together as we battle the COVID-19 outbreak. Neither government nor industry can solve this challenge alone. This is a path forward to ensure Americans’ health, our business stability and our economic resilience, and we hope our elected leaders can unite to meet this moment.”

The NAM’s “COVID-19 Policy Action Plan Recommendations” identify five key policy areas where legislative and administration action would help combat COVID-19 and future public health emergencies successfully:

• Keeping Our Workforce Safe and Healthy
• Protecting Our Communities
• Providing Economic Stability
• Encouraging Resilient Growth in the United States
• Encouraging Long-Term Job Growth

Read the full policy action plan here.

-NAM-

The National Association of Manufacturers is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs more than 12.8 million men and women, contributes $2.37 trillion to the U.S. economy annually and has the largest economic multiplier of any major sector and accounts for 63% of private-sector research and development. The NAM is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the Manufacturers or to follow us on Twitter and Facebook, please visit www.nam.org.

Manufacturers and industry leaders gathered in Washington, D.C., last night with high-profile government officials to celebrate the 125th anniversary of the National Association of Manufacturers and the launch of it and The Manufacturing Institute’s “Creators Wanted” campaign. Hosted by the NAM, the event featured Senior Advisor to the President Ivanka Trump, who received the organization’s inaugural Alexander Hamilton Award, which recognizes leaders who inspire Americans to promote, perpetuate and preserve manufacturing in America.

“Ivanka Trump embodies the collaborative spirit and relentless drive needed to solve manufacturers’ most pressing challenge—the workforce crisis,” said NAM President and CEO Jay Timmons. “Like no one in government has ever done, she has provided singular leadership and shown an unwavering commitment to modern manufacturing in America.”

Other leaders in attendance included Senior Advisor to the President Jared Kushner, Secretary of Education Betsy DeVos and more than a dozen members of Congress from across the political spectrum.

The “Creators Wanted” campaign is an unprecedented, nationwide effort to reshape America’s perception of manufacturing and take on the manufacturing industry’s skills gap. Manufacturing executives are rallying around the initiative—more than $14 million in initial sponsorships will help the campaign engage communities across the country and inspire more Americans to pursue careers in modern manufacturing.

#CreatorsWanted is an opportunity to leverage the manufacturing industry’s unmatched strength to confront the workforce crisis w/ immediate, long-term solutions. Thanks to our sponsors, @ShopfloorNAM & @TheMfgInstitute can secure the industry's future. https://t.co/YkRj2djc9j

— Jay Timmons (@JayTimmonsNAM) February 12, 2020

The “Creators Wanted” campaign will feature an on-the-ground, interactive mobile tour in more than 20 states and a culminating “Making America” festival in Cincinnati, Ohio. By 2025, “Creators Wanted” aims to reduce the skills gap in the United States by 600,000, expand the number of students enrolling in technical and vocational schools or reskilling programs by 25% and increase the positive perception of the industry among parents to 50% from 27% today.

“Since its inception 125 years ago, the National Association of Manufacturers has stood up for the men and women who make things in America,” said Timmons. “Today, manufacturers are keeping our promise to make a difference for our communities and our country. We have set ambitious goals that we intend to exceed. We will keep manufacturing front and center in 2020 and deliver the results our members expect and deserve.”

Get involved in the “Creators Wanted” campaign here.