Grassley Praises House Action Advancing Bills to Reduce Prescription Drug Costs

WASHINGTON – The House Energy and Commerce Committee approved by a vote of 51-0 its version of the CREATES Act, which is cosponsored in the Senate by Finance Committee Chairman Chuck Grassley. The CREATES Act addresses abuses by brand-name drug companies that keep lower-cost generic alternatives from being developed or reaching the market. The legislation is estimated to saves taxpayers roughly $3.9 billion over 10 years. The House committee also advanced by voice vote a bill to end anti-competitive pay-for-delay agreements between brand-name drugmakers and generic manufacturers that keep lower-cost alternative drugs off the market. Grassley is the lead Republican cosponsor of separate bipartisan legislation in the Senate to address pay-for-delay.

 

“Few proposals get unanimous support these days. Yesterday’s broad, bipartisan action by the House Energy and Commerce Committee to advance the CREATES Act is a major win for consumers. I look forward to advancing this bill because it will cut down on abuses in the system that keep prices high for patients. I’m also pleased that the committee advanced a bill to address pay-for-delay schemes. Although that bill is not identical to the bill I’ve sponsored in the Senate, the bill’s movement shows that the committee is serious about addressing the pay-for-delay problem. I’ll continue to push for legislation to address abuse and improve competition in the prescription drug market. I’ll also continue working to bring transparency to the business model and supply chain that is causing unnecessarily high prices for American patients and taxpayers,” Grassley said.

 

Grassley held two hearings this year on drug pricing in America, including one with seven leading drug manufacturers, and has scheduled a hearing with five pharmacy benefit managers (PBMs) for next week. He is also leading a bipartisan investigation with Senate Finance Committee Ranking Member Ron Wyden into the recent spike in the price of insulin.

 

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