WASHINGTON D.C. – Last week, Rep. Nanette Diaz Barragán (CA-44) introduced the Fair and Immediate Release for Generic Drugs Act, H.R. 1506, legislation that will lower the high cost of prescription drugs for consumers. The FAIR Generics Act would allow generic drug manufacturers to come into the market sooner, increase competition and reduce prices for patients.
“For years, the skyrocketing cost of lifesaving prescription drugs have forced millions of Americans into debt,” said Rep. Barragán. “By allowing a third competing product to enter the market, we can increase competition and keep drug prices low for consumers. The FAIR Generics Act is a common-sense solution that will help drive down the soaring cost of prescription drugs and ensure all Americans have access to affordable medication.”
Abuse of the drug approval process by drug manufacturers has been one of the driving forces behind the rapidly rising cost of prescription drugs over the last decade. This legislation will prevent barriers for market competition and ensure generic products can come to market, lowering prescription drug prices for consumers.
Bill text is available here.
Nanette Diaz Barragán is proud to represent California’s 44th Congressional District, which includes the communities of Carson, Compton, Florence-Firestone, Lynwood, North Long Beach, Rancho Dominguez, San Pedro, South Gate, Walnut Park, Watts, Willowbrook and Wilmington.