The executive committee of the U.S. Senate Judiciary Committee has voted out a bill co-sponsored by Texas Senator John Cornyn aimed at reducing the cost of some prescription medications. The committee voted favorably on the Affordable Prescriptions for Patients Act of 2023.
Senator Cornyn says the bill's goal is to prevent drug companies from improperly manipulating the patent system to prevent generic drugs from coming to the marketplace.
"Drug companies do a lot of research and development for new, life-saving drugs. When they come up with one that works, they're given a patent which gives them the exclusive right to sell that drug for a number of years," Sen. Cornyn said. "Unfortunately, some of the companies have figured out a way to game that system by applying for hundreds of different patents for minor changes in packaging or dispensing."
Customers, Sen. Cornyn said, are forced to continue paying higher prices for those medications which should be available in less-expensive generic form.
"Texans shouldn’t have to pay more at the pharmacy counter because of bad actors who game the patent system and prevent cheaper generics from coming to market," he said.
The bill is cosponsored by Senators Ted Cruz (R-TX), Dick Durbin (D-IL), Chuck Grassley (R-IA), and Amy Klobuchar (D-MN).
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