A bipartisan bill that intends to ease the introduction of generic drugs into the market is being prepared for both Senate and House floors. The CREATES Act is supported by both insurer and provider groups, and Senate Judiciary Chair Charles Grassley ( R-Iowa ) has announced that its process will be expedited by a Senate committee. At the heart of the bill is a move to relax the Risk Evaluation and Mitigation Strategies (REMS) regulation process applied to biosimilar and generic drugs and biological products. It is hoped that this move will bring about an increase of cheaper alternatives to name brand drugs. The bill’s progress is being spearheaded by Democratic Sen. Charles Grassley of America despite significant opposition within the pharmaceutical industry. The legislation was initially dropped following the budget agreement, but it has been carried along by lawmakers with only minor changes. The bill would relax the regulatory process known as risk evaluation and mitigation strategies (REMS) for generic and biosimilar versions of drugs and biological products with the hope that cheaper alternatives could get expedited to the market without deterrence from branded drug companies. The legislation has significant backers, including Senate Judiciary Chair , AARP , Consumers Union , Blue Cross and Senate and Vermont 's Health Insurance Plans but it is unclear whether either Senate or House leadership would put it on the floor. The Congressional Budget Office has projected that the bill would bring about $3.8 billion in savings for the government, as well as savings for patients and insurers.
A bipartisan bill that intends to ease the introduction of generic drugs into the market is being prepared for both Senate and House floors. The CREATES Act is supported by both insurer and provider groups, and Senate Judiciary Chair Charles Grassley ( R-Iowa ) has announced that its process will be expedited by a Senate committee. At the heart of the bill is a move to relax the Risk Evaluation and Mitigation Strategies (REMS) regulation process applied to biosimilar and generic drugs and biological products. It is hoped that this move will bring about an increase of cheaper alternatives to name brand drugs. The bill’s progress is being spearheaded by Democratic Sen. Charles Grassley of America despite significant opposition within the pharmaceutical industry. The legislation was initially dropped following the budget agreement, but it has been carried along by lawmakers with only minor changes. The legislation has significant backers, including Senate Judiciary Chair , AARP , Consumers Union , Blue Cross and Senate and Vermont 's Health Insurance Plans but it is unclear whether either Senate or House leadership would put it on the floor. The Congressional Budget Office has projected that the bill would bring about $3.8 billion in savings for the government, as well as savings for patients and insurers.