Shaheen, Collins Reintroduce Bipartisan Bill to Lower Cost of Prescription Drugs
(Washington, DC) – U.S. Senators Jeanne Shaheen (D-NH) and Susan Collins (R-ME), co-chairs of the Senate Diabetes Caucus, are reintroducing the Ensuring Timely Access to Generics Act to help lower the cost of prescription drugs. The legislation would increase competition for generic drugs by providing better oversight of the Food and Drug Administration (FDA) citizen petition process.
“Addressing the soaring price of prescription drugs is a tangible way that Congress can help lower health care costs and give families some breathing room in their budgets,” said Senator Shaheen. “By increasing competition, our bipartisan legislation would help bring more generic drugs to the market and reduce costs for the Granite State families who rely on them.”
“We know that increasing generic drug competition is key to lowering prescription drug prices for individuals and reducing drug spending overall. On average, generic drugs cost 80 to 85 percent less than their brand-name equivalents,” said Senator Collins. “This bipartisan bill would help address barriers that currently delay market entry for generic drugs, improving competition and saving patients money.”
The Ensuring Timely Access to Generics Act would work to increase generic drug competition through better oversight of FDA’s citizen petition process. The citizen petition process allows interested stakeholders, including drug companies, to bring concerns to the FDA’s attention regarding pending applications. Currently, the process is being exploited by bad actors who file citizen petitions in order to delay the approval of generic competitors and extend their patent protections. This legislation ensures the FDA can reject citizen petitions if they believe its primary purpose is to delay the approval of an application, thereby increasing competition in the marketplace and lowering costs for patients.
Senator Shaheen has led efforts across the aisle to lower health care costs for Granite Staters and Americans. As co-chairs of the U.S. Senate Diabetes Caucus, Shaheen and Collins have consistently pressed to hold insulin manufacturers, insurers and pharmacy benefit managers accountable for the skyrocketing cost of life-saving insulin. Their bipartisan Improving Needed Safeguards for Users of Lifesaving Insulin Now (INSULIN) Act would comprehensively address the soaring cost of insulin, removing barriers to care and making it more accessible for millions more Americans. The Senators have also pushed for passage of their bicameral, bipartisan Strengthening Collective Resources for Encouraging Education Needed (SCREEN) for Type 1 Diabetes Act, to improve early detection and screening for type 1 diabetes.
###