Senators join Grassley, Klobuchar bill to decrease prescription drug prices
Sens. Amy Klobuchar, D-Minn., and Chuck Grassley, R-Iowa, announced Sens. Dick Durbin, D-Ill. and Kevin Cramer, R-N.D., have joined their bipartisan legislation to bring down the skyrocketing prices of prescription drugs.
The Preserve Access to Affordable Generics and Biosimilars Act would limit anticompetitive pay-for-delay deals that prevent or delay the introduction of affordable follow-on versions of branded pharmaceuticals.
The use of "pay for delay" deals—the practice in which drug companies use pay-off agreements to delay the introduction of cheaper substitutes—could make some critical prescriptions unaffordable for patients and impose significant costs on the U.S. health care system. Sens. Patrick Leahy, D-Vt., and Joni Ernst, R-Iowa, have previously co-sponsored this bill.
"I'm glad that we have the support of Sens. Durbin and Cramer for our bipartisan legislation to spur competition in prescription drug markets, which will help to reduce prices and ensure patients can access the medications they need," Klobuchar stated in the release. "By promoting increased competition from generic drugs and biosimilars, this legislation will help curb the skyrocketing costs of prescription medications."