Tags: chuck grassley | pass | bills | lower | price | generic drugs

Grassley Hopes to Pass Bills to Help Lower Price of Generic Drugs

Image: Grassley Hopes to Pass Bills to Help Lower Price of Generic Drugs

Sen. Chuck Grassley (Pete Marovich/Bloomberg via Getty Images)

By    |   Monday, 23 Jan 2017 02:13 PM

Sen. Chuck Grassley plans to press for legislation this year making it easier for generic drugs to get to the market, a move he hopes will add competition and bring down prices, Axios reported on Monday.

Grassley, who is chairman of the Senate Judiciary Committee, hopes to reform policies by allowing the import of drugs from abroad and by cracking down on instances where an off-patent drug pays a generic company to keep it from bringing competition to market.

In addition, new legislation would allow a generic drug manufacturer to bring an action to federal court when brand manufacturers are involved in delay tactics, which he estimates could save $2.9 billion over 10 years.

The senator also hopes that drug price legislation could be wrapped into the Obamacare debate if it does save money and help pay for the replacement.

He said he was the least optimistic about passing a bill to allow the importation of drugs, because despite two decades of attempts such legislation never passes, "because the pharmaceutical industry is so strong politically."

However, The Hill reported that some proponents of allowing the purchase of prescription drugs from abroad said the chance to pass such a bill has never been greater, because President Donald Trump has vowed to lower drug prices and give consumers more options, which is contrary to the usual Republican position.

Adding more speculation to this belief was another report in the Hill that at an inaugural luncheon Trump told Democratic Rep. Elijah Cummings, one of the most outspoken congressmen in battling high drug prices, that the two must meet to discuss the issue.

Grassley said hearings on the bills would probably only start in March or April once the committee is finished with nominations.

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Sen. Chuck Grassley plans to press for legislation this year making it easier for generic drugs to get to the market, a move he hopes will add competition and bring down prices, Axios reported on Monday.
chuck grassley, pass, bills, lower, price, generic drugs
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2017-13-23
Monday, 23 Jan 2017 02:13 PM
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