Pharmaceutical company Pfizer is dropping out of the Biotechnology Innovation Organization, an industrywide lobbying group representing around 1,000 companies, Seeking Alpha reported Dec. 6.
BIO lobbies governments on behalf of the biotech industry on issues such as regulation and taxation. On Dec. 5, BIO named John Crowley, the founder and executive chair of Amicus Therapeutics, as its new CEO.
Earlier this year, Pfizer's competitors AstraZeneca and Teva Pharmaceutical left the other main industry trade group, Pharmaceutical Research and Manufacturers of America.