During today’s House Judiciary Subcommittee on Anti-trust hearing on healthcare consolidations – Members of Congress recognized Big Pharma’s continued role in price gouging American patient through patent abuse schemes to hinder generic competition and maintain monopolies over their biggest money makers.
Importantly, key members of the committee used the hearing as an opportunity to tout the benefits of a market-based solution to not only lower drug prices, but to do so by holding Big Pharma to account – the CREATES Act.
Rep. David Cicilline: “For drug prices, the entry of generic drug competitors can reduce the cost of branded drugs significantly…Some branded drug companies have abused safety protocols to thwart generics and preserve their monopoly power for more than a decade…The CREATES Act establishes a tailored path for generic drug manufacturers to bring low-cost drugs to market.”
Rep. Jim Sensenbrenner: “Chairman Cicilline and I have introduced in the first weeks of this Congress, the CREATES Act. Our bill is strong and bipartisan legislation that will defer branded pharmaceutical companies from manipulating test sample availability to block cheaper generic alternatives from obtaining FDA approval and entering the market place. The CREATES Act will lead to lower cost for patients by assuring they have faster access to safe and effective FDA approved generic drugs.”
Rep. Jerry Nadler: “The judiciary committee has a strong tradition of bipartisan efforts to promote strong competition in healthcare markets. Particularly with respect to make prescription drugs and other healthcare services more affordable through the full benefits of competition. I is essential that we continue this important work through today’s hearing and thrugh out this congress as we seek to provide meaningful relief to Americans who struggle every day with the high cost of medicine.”
“It is unacceptable that hundreds of thousands of cancer patients are reportedly delaying life-saving care, cutting their pills in half or skipping drug treatments entirely because of drug prices…Last week, when confronted with the facts surrounding skyrocketing prescription drug prices, the executives of seven major drug manufacturers responded by pointing fingers somewhere else, including insurers and [PBMs]. The significance of competition for lower cost generic drugs cannot be overstated.”
“This committee has been and will continue to be active in stopping drug companies from reaping monopoly profits at the expense of the health of working American families…I am proud to be an original co-sponsor of the [CREATES Act]. This bipartisan legislation…seeks to remove an obstacle to generic competition by making it easier for generic drug companies to obtain the samples they to enter the market place.”
Rep. Chris Collins: “I believe [the CREATES Act] is a good starting point and I look forward to continuing to work with [Chairman Cicilline and Ranking Member Sensenbrenner] to get this bill signed into law this term.
Rep. Matt Gaetz: “I am hopeful that the substance of the CREATES Act will be marked up in committee.”
We’re proud to support this bipartisan legislation that will foster competition and put patients first. Learn more about the momentum building behind the CREATES Act here: https://www.csrxp.org/momentum-builds-for-bipartisan-creates-act/