U.S. Senator Tammy Baldwin Helps Introduce Bipartisan Legislation to Combat Rising Prescription Drug Prices
Bipartisan, bicameral legislation would counter most common delay tactics used by name-brand manufacturers to prevent lower-cost generic competition
WASHINGTON, D.C. – U.S. Senator Tammy Baldwin helped reintroduce bipartisan legislation to combat anticompetitive practices used by some brand-name pharmaceutical and biologic companies to block entry of lower-cost generic drugs.
The Creating and Restoring Equal Access to Equivalent Samples (CREATES) Act would deter pharmaceutical companies from blocking cheaper generic alternatives from entering the marketplace.
“I’ve heard from countless Wisconsinites who can’t afford the rising costs of the prescription medication they need. They want Washington to act and this bipartisan reform will take on the unfair practices of some brand-name pharmaceutical companies that drive up prescription drug costs,” said Senator Baldwin. “Lower-cost generic drugs shouldn’t be blocked from the marketplace by big drug companies. This bipartisan legislation will make more affordable prescription drug options available to consumers who should be able to get the medications they need at a price they can afford.”
The Congressional Budget Office has estimated that the bill would result in a $3.9 billion net decrease in the federal deficit. Savings to consumers and private insurers likely would be far greater – many billions of dollars more.
The legislation, a version of which was introduced in the House earlier this year, is strongly supported by a coalition of groups including the AARP, American College of Physicians, FreedomWorks, Coalition for Affordable Prescription Drugs and many more. The full list of supporters is available here.
The bill is led by Senators Patrick Leahy (D-VT), Chuck Grassley (R-IA), Amy Klobuchar (D-MN) and Mike Lee (R-UT). The bill is also cosponsored by Senators Richard Blumenthal (D-CT), Cory Booker (D-NJ), Sherrod Brown (D-OH), Susan Collins (R-ME), Tom Cotton (R-AR), Ted Cruz (R-TX), Steve Daines (R-MT), Dick Durbin (D-IL), Joni Ernst (R-IA), Dianne Feinstein (D-CA), Deb Fischer (R-NE), Maggie Hassan (D-NH), John Kennedy (R-LA), Angus King (I-ME), Bob Menendez (D-NJ), Lisa Murkowski (R-AK), Rand Paul (R-KY), Mike Rounds (R-SD), Tina Smith (D-MN), Debbie Stabenow (D-MI), Jon Tester (D-MT), Sheldon Whitehouse (D-RI) and Todd Young (R-IN).
More information about the CREATES Act is available here.
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