McKinley, Welch Introduce Bill to Increase Consumer Access and Drive Down Costs for Generic Drugs

WASHINGTON–Representatives David B. McKinley (WV-1) and Peter Welch (VT) introduced the Fair Access for Safe and Timely (FAST) Generics Act. The legislation would thwart manipulation of the Food and Drug Administration's (FDA) drug safety regulations in order to block the production of generic alternatives to brand name medicines. This would increase consumer access to generic drugs, boost market competition, and ultimately save consumers money.

McKinley, Welch Introduce Bill to Increase Consumer Access and Drive Down Costs for Generic Drugs

Representatives  David B. McKinley (WV-1) and Peter Welch (VT) introduced the Fair Access for Safe and Timely (FAST) Generics Act. The legislation would thwart manipulation of the Food and Drug Administration’s (FDA) drug safety regulations in order to block the production of generic alternatives to brand name medicines. This would increase consumer access to generic drugs, boost market competition, and ultimately save consumers money.

“The high cost of brand name drugs should never force patients to make painful financial decisions. Medicine must be affordable to those who need it most,” said McKinley. Our bipartisan bill will allow more people to access generic alternatives by providing competition in the marketplace and removing unnecessary bureaucratic delays from the federal government,” McKinley said.

“Generic prescription drugs are very often a cost-effective alternative to brand name drugs.  Patients, in consultation with their physician, should have a choice where possible,” said Welch. Our legislation will save consumers billions of dollars by ensuring timely competition in the market and preventing unfair delays for patients seeking more affordable options for their medications, Welch said.

Currently, there are companies that abuse Food and Drug Administration (FDA) drug safety programs by withholding access to drug samples for generic manufacturers, resulting in anticompetitive practices and increased pharmaceutical costs.

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