A bipartisan group of US senators, co-chaired by Jeanne Shaheen and Susan Collins, have reintroduced the Ensuring Timely Access to Generics Act, which aims to lower prescription drug prices by increasing competition for generic drugs. The legislation would provide the Food and Drug Administration (FDA) with better oversight of the citizen petition process, which is currently exploited by “bad actors” who submit petitions in order to delay the approval of generic competitors and keep patients from lower cost options. If passed, the act would not allow such petitions to be accepted by the FDA if their main purpose is seen to be to delay approval of a competitor medication. The senators argue that increased competition is crucial to lowering drug prices overall, with generic versions of medicines costing up to 85% less than their branded equivalents. The legislation is supported by a group of six senators from both parties, including Michael Bennet, Marco Rubio, Tammy Baldwin and Mike Braun.
Senator Shaheen has been a strong advocate of measures to lower the cost of healthcare for American citizens, and has led bipartisan efforts to roll back insulin prices and hold insulin manufacturers accountable for high prices. Shaheen and Collins also lead the Improving Needed Safeguards for Users of Lifesaving Insulin Now (INSULIN) Act, which aims to encourage insulin manufacturers to reduce prices and extend patient protections. Shaheen has also introduced legislation to close the “orphan drug loophole” and the Biologic Transparency Act of 2019 in a bid to increase competition in the prescription drug market.
Original Story at www.shaheen.senate.gov – 2023-04-04 16:04:06