Sen. John Kennedy (R-La.) Cosponsors Bipartisan Legislation To Combat Rising Prescription Drug Prices
Feb 07 2019
WASHINGTON, D.C. –U.S. Sen. John Kennedy (R-La.) joined his colleagues in cosponsoring the Creating and Restoring Equal Access to Equivalent Samples Act (CREATES) to combat the rising cost of prescription drugs.
The CREATES Act would deter the practice of discouraging lower-cost generic drugs from entering the market. Brand-name pharmaceutical and biologic companies block cheaper generic drugs from entering the market to keep the cost of their own products high.
This legislation would create more competition among pharmaceutical drug companies, lowering prescription drug costs.
“Families across Louisiana are struggling to pay for costly prescription drugs. Consumers should have the freedom to buy name-brand pharmaceutical drugs or generic ones,” said Sen. Kennedy. “This legislation is a good first step in lowering pharmaceutical drug prices. Families shouldn’t have to ration their medicines or go without other necessities because prescription drug prices are too high.”
“I hear from Vermonters every day that rising prescription drug prices are a larger strain each year on their tight budgets,” said Sen. Leahy. “For too long, a few predatory name brand companies have used anticompetitive strategies to delay entry of lower cost generic drugs. When these companies use unfair practices to keep drug prices artificially high, patients suffer. Patients, families and government programs shouldn’t have to cope with increased drug costs to help name brand companies’ bottom lines. Our bipartisan bill continues to gain momentum. It is precisely targeted to stop these abuses, and I’m committed to working on behalf of Vermonters in Congress to see that CREATES and other vital efforts to lower prescription drug prices are signed into law.”
The Congressional Budget Office has estimated that the bill would result in a $3.9 billion net decrease in the federal deficit.
This legislation is supported by the AARP, American College of Physicians, Freedom Works and many more. The bill was introduced by Senators Leahy (D-Vt.), Grassley (R-Iowa), Klobuchar (D-Minn.) and Lee (R-Utah).