“With everyone from patients to the president demanding action on drug pricing, AAM welcomes the introduction of the Preserving Access to Cost Effective Drugs (“PACED”) Act of 2018. This legislation will put a stop to the recent anticompetitive ploy made infamous by Allergan when it rented sovereign immunity from a Native American tribe to avoid legitimate review of disputed patents by the U.S. Patent and Trademark Office (PTO).
As pharmaceutical companies continue to find novel ways to game the system to keep their monopolies intact long past their expiration date, the PACED Act addresses this particularly onerous practice that keeps drug costs artificially high. The scheme is so egregious that everyone said, ‘there ought to be a law.’ Thank you to Senator Tom Cotton (R-Arkansas) and Senator Claire McCaskill (D-Missouri) along with Senators Pat Toomey (R-Pennsylvania), Joni Ernst (R-Iowa), and David Perdue (R-Georgia) for taking the first step towards that objective. Congress should give the PACED Act its full consideration and enact this law.”
Attribution: Association for Accessible Medicines