Two House committees are working out details for a compromise on a piece of controversial legislation that would help lower the cost of prescription drugs, House Speaker Paul Ryan said Thursday.
According to The Hill, Ryan spoke at a conference put on by a Cleveland-based law firm.
"We're working between the Commerce Committee and the Judiciary Committee on a compromise on what we call CREATES, which is getting the generics online faster after patents have expired, so I think there are things we can do in that area," Ryan said.
The Creating and Restoring Equal Access to Equivalent Samples (CREATES) Act was first drafted in 2016 and was introduced last year. It aims to lower the price of generic prescription drugs and make the market for them more competitive. Sen. Patrick Leahy, D-Vt., authored the bill, which has some bipartisan support.
There is also Republican opposition to the bill out of concerns it would lead to frivolous lawsuits being filed against drugmakers. That belief likely stems from the fact the bill would give generic drug companies the ability to sue brand-name drug companies to obtain samples of their products.
Ryan did not elaborate on what a compromise between the two aforementioned House committees could involve.
Last Friday, meanwhile, President Donald Trump unveiled a multi-pronged plan to help combat the rising cost of prescription drugs.
© 2021 Newsmax. All rights reserved.