We applaud Congress’ efforts to identify specific policy solutions that aim to ease the burden of unsustainable drug prices for American patients.
Several of the bills discussed at today’s House Energy & Commerce Health Subcommittee hearing offer a promising path to lower prices by putting an end to brand manufacturer efforts to delay timely generic competition and keep prices artificially high. These solutions include:
- Prohibiting patent settlements where the brand manufacturer pays the generic company to delay market entry;
- Preventing ongoing abuses of restricted access programs that delay timely generic competition;
- Streamlining regulatory processes for efficient generic and biosimilar approval; and
- Ensuring that incentives for generic companies to compete in the market does not unnecessarily delay the entry of multiple competitors which enhance the downward pressure on prices.
One critical component to addressing the high and rising prices set by drug companies is a well-functioning marketplace with robust competition. The legislative proposals highlighted in today’s hearing aim to support such a marketplace that works for patients, purchasers and the health care system.