Summary: To amend the Public Health Service Act to shorten the exclusivity period for brand name biological products from 12 to 5 years. Cosponsors
ANGIE CRAIG’S POSITION: Representative Craig cosponsored the bill on 6/20/19.
- I joined
@RepSchakowsky, @rosadelauro, @RepLloydDoggett and @CongressmanRaja to introduce the PRICED Act, a bill that would increase competition and drive down prescription drug costs by shortening the patent exclusivity period for biologic drugs. (Source: Twitter, Rep. Craig Tweet, 6/20/19)
STATUS: Introduced 6/20/19 by Rep. Schakowsky, Janice D. [D-IL-9] .
INFORMATION RELATED TO THE BILL:
- “Drug pricing isn’t a partisan issue and taking on the Big Pharma monopoly shouldn’t be either. I am proud to be joined by Congressman Westerman to introduce the PRICED Act, which will make prescription drugs more affordable and accessible for Americans across the nation,” said Congresswoman Schakowsky. “During the health care debate in 2010, we fought hard to reduce the number of years that manufacturers of the newer, more expensive biologic drugs can maintain patent exclusivity, which keeps competitors from putting lower cost drugs on the market. Unfortunately, it still granted twelve years of exclusivity that has allowed biologics manufacturers to enjoy billions of dollars in profits and no competition. That is unacceptable for American taxpayers who fund the majority of research that develops these drugs and who need these drugs to survive. I will fight to finally pass the PRICED Act in the 116th Congress.” (Source: Rep. Schakowsky, Press Release, 6/20/19)