IMPROVE ACCESS TO GENERIC PHARMACEUTICALS -- HON. PETER DEUTSCH
(Extensions of Remarks - September 19, 2000)
[Page: E1528]
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HON. PETER DEUTSCH
OF FLORIDA
IN THE HOUSE OF REPRESENTATIVES
Tuesday, September 19, 2000
- Mr. DEUTSCH. Mr. Speaker, I'm here today to deliver good news for American
consumers, seniors and taxpayers, all of whom are seeking more affordable
medicine. That's right, good news!
- Over the next decade, patents on nearly $50 billion worth of brand name
drugs are scheduled to expire. If you assume that generic versions of those
drugs will be introduced at a price 50 percent lower than the brand price--and
that's conservative--Americans will enjoy $25 billion in savings. That figure
is in addition to an estimated $10 billion Americans are already saving each
year through the use of generic drugs.
- With so much profit at stake, we can expect brand drug companies to do
everything in their power to delay the expiration of those patents. But as
representatives of the people, we must put patient health ahead of profits and
vote no on these unfair and unwarranted patent extension requests.
END