Congrats to the Senate Judiciary Committee on S. 369
On October 15th, the Senate Judiciary Committee voted out S. 369 (here is the bill), the ban on pay-for-delay settlements between brand-name pharmaceutical manufacturers and generic-drug companies. The purpose and result of these settlements is that the generic drugs come to market later. This means that patients and insurers must wait to have access to the drugs they need at the much lower generic price. This bill would pave the way for cost savings, since generic drugs would come to market faster. The FTC has estimated the savings at $35 billion to consumers and $12 million to the federal government over ten years.
via Prescription Access Litigation (PAL) Project » Blog Archive » Generic bill moves in the Senate.
I always thought the pay-for-delay practice was one of the most sinister things the Phrma cabal were allowed to get away with. I would always choose a generic over a brand name if given the option.
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