WASHINGTON D.C. (KTIV) — U.S. Senator Mike Rounds of South Dakota is cosponsoring a bill to try and bring under control the rising cost of prescription drugs.
The measure joins a bill introduced on Thursday, January 10, by U.S. Senator Charles Grassley of Iowa, that would crack down on anti-competitive pay-for-delay pharmaceutical deals, in which branded companies pay their generic competitors not to compete as part of a patent settlement.
Rounds’s bill, which is co-sponsored by Vermont Democrat Patrick Leahy, would encourage competition.
“What that would try to do is drive competition in the prescription drug market by doing what’s called a ‘fast track,’…fast-tracking the approval process for generic drugs,” said Sen. Mike Rounds, (R) South Dakota.
No matter which bill gets to the Senate floor for debate, Rounds hopes something can be done to control the rising price of prescription drugs.