Today, the Commonwealth Fund published a blog post highlighting Congress’ consideration of bipartisan legislation, called the CREATES Act, that could expedite the availability of lower-priced generic drugs in its must-pass bill to fund the federal government in 2018.
The CREATES Act tackles one of the numerous problems driving high drug prices — brand-name drug manufacturers’ use of anticompetitive tactics to block access to generic drugs — that Waxman Strategies’ Henry Waxman, Bill Corr, Kristi Martin and Sophia Duong describe in their report, Getting to the Root of High Prescription Drug Prices: Drivers and Potential Solutions.
If passed, the CREATES Act would help generate generic competition, and because the Act could save the federal government more than $3 billion over 10 years, it could help pay for other necessary federal spending. Consideration of this legislation and lack of generic drug competition is part of the overarching dialogue on how we can regain the balance of incentives for drug innovation and competition that was established under the Hatch-Waxman Act.
Check out the full blog post here.