Congress is advancing legislation aimed at reducing prescription drug costs and reforming patent practices. The INSULIN Act, which has passed a key Senate committee, proposes capping out-of-pocket insulin costs at $35 per month for those with private insurance and would also establish a grant program for the uninsured. Additionally, the bill seeks to prevent pharmaceutical companies from using FDA citizen petitions to unfairly delay the market entry of lower-cost generic and biosimilar drugs. Another proposed bill, the Biosimilar Red Tape Elimination Act, would remove the requirement for biosimilar manufacturers to prove interchangeability, a step already taken by European regulators. AI
RANK_REASON Legislation targeting drug pricing and patent practices passed by a key Senate committee. [lever_c_demoted from significant: ic=1 ai=0.0]
- adalimumab
- Biosimilar Red Tape Elimination Act
- European Medicines Agency
- Inflation Reduction Act of 2022
- insulin-activated receptor activity
- Medicare
- United States Food and Drug Administration
- United States Senate Health, Education, Labor and Pensions Committee
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