Sens. Bernie Sanders (I-VT) and Bill Cassidy (R-LA) announced Tuesday they made a deal on a bill to lower drug prices and increase transparency in the pharmaceutical industry.
The two senators, who serve as the chairman and ranking member on the Senate Committee on Health, Education, Labor, and Pensions, said the pieces of legislation will “expand the availability of low-cost generic drugs.”
BIDEN WILL VETO MCCARTHY’S DEBT LIMIT PACKAGE, WHITE HOUSE ANNOUNCES
“We are happy to announce that we’ve come to an agreement to consider critical pieces of legislation to reform pharmacy benefit managers and expand the availability of low-cost generic drugs through the HELP Committee. We will hold an official markup of the legislation on May 2nd,” the senators said in a joint statement.
The lawmakers said a markup of four bills will occur on May 2. The bills to be marked up include the Ensuring Timely Access to Generics Act of 2023, the Expanding Access to Low-Cost Generics Act of 2023, the Retaining Access and Restoring Exclusivity Act, and the Pharmacy Benefit Manager Reform Act.
The Ensuring Timely Access to Generics Act of 2023 was introduced by Sens. Jeanne Shaheen (D-NH), Susan Collins (R-ME), and Michael Bennet (D-CO) last month. The bill aims to “increase competition for generic drugs and lower costs,” according to the senators.
The Expanding Access to Low-Cost Generics Act of 2023 was introduced by Sens. Tina Smith (D-MN) and Mike Braun (R-IN) last month. It seeks to speed up the process for generic versions of drugs to reach the market, according to the senators.
The Retaining Access and Restoring Exclusivity Act aims to limit exclusivity for certain drugs, and the Pharmacy Benefit Manager Reform Act aims to provide more oversight over those who “provide pharmacy benefit management services,” according to the bill.
CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER
Drug price reform has been seen as one of the areas of focus for this Congress, and the scheduled markup appears to pave the way for future legislation.
Politicians from both parties have made a push for increased transparency in how drugs are priced.
