In the latest attempt to crack down on price gouging, a bipartisan bill was introduced by a pair of Congressmen this week to spur development of generic drugs. And the legislation is expected to win support today from the chairman of the House Energy and Commerce Committee, which is a holding a hearing on various health matters.
The development comes just two days after President Trump met with several pharma execs at the White House and complained about “astronomical” costs for prescription medicines. Among those at the meeting was Representative Greg Walden (R-Ore.), who chairs the committee. A committee spokesman confirmed Walden will back the legislation. His support was first reported by The Wall Street Journal.
The bill, which mirrors a similar effort that was introduced last year but languished, would provide incentives to drug makers to develop generics when there is a lack of competition or a shortage exists. The bill would allow the Department of Health and Human Services to review an application for a drug within six months and expedite inspection of any facility that would make the medicine.
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