Jun 14 2018
WASHINGTON, D.C. – U.S. Sen. John Kennedy (R-La.) released the following statement after the Creating and Restoring Equal Access to Equivalent Samples (CREATES) Act passed out of the Senate Judiciary Committee today. The Congressional Budget Office projects that the legislation, which Sen. Kennedy co-sponsored, could save taxpayers $3.8 billion by increasing competition among generic drug manufacturers and lowering the cost of prescription drugs. Shreveport is home to Dr. Reddy’s, Louisiana’s only generic drug manufacturing facility.
“Too many Louisianans struggle to afford their daily medications. This is especially true for senior citizens on fixed incomes and people battling serious illnesses. Paying for daily medications shouldn’t be a financial strain,” said Sen. Kennedy. “We need to work on lowering drug costs for people who are taking them as prescribed for legitimate health problems while continuing to battle the opioid addiction crisis.”
“We're pleased and grateful for Senator Kennedy's leadership in the bipartisan coalition of lawmakers that has worked so hard to move the CREATES act forward," Alok Sonig, Dr. Reddy’s Chief Executive Officer (US) for Developed Markets. "The legislation if passed will allow the FDA to approve generic drugs faster and prevent the anti-competitive tactics of some brand-name drug companies that keep prices artificially high. When drug companies withhold drug samples from generic manufacturers, the opportunity to create competition dies."