Posted by Michael Wonder on 20 Sep 2018
Generics would hit the market faster under Senate bill, saving more than 3 billion dollars, says CBO
19 September 2018 - Lower-price drugs would hit the market faster under a bipartisan bill awaiting a vote in the Senate, according to a score released Wednesday by the Congressional Budget Office and the Joint Committee on Taxation.
"CBO expects that the bill’s provisions would allow generic drugs ... to enter the market earlier, on average, than they would under current law," authors of the report concluded.
The legislation, known as the CREATES Act, passed the Senate Judiciary Committee in June but hasn't yet been scheduled for a vote on the floor. CBO estimates that it would reduce spending by $3.3 billion from 2019 to 2028, mostly through the Medicare and Medicaid programs spending less on prescription drugs.
