Legislation that would tighten restrictions on pharmaceutical companies that “exploit the law” is being introduced today by Iowa Senator Chuck Grassley. He says the bill’s objective is to bring drug costs down for everyone instead of breaking sick people’s budgets. Grassley says his bill “will close a loophole for secret anti-competitive agreements between brand names and generic drug manufacturers.” He says drugs can be a lifesaver and also a budget buster. Grassley says generic drug makers sometimes make unscrupulous pacts with brand-name companies to hold off marketing generic versions of drugs for certain periods of time in exchange for cash to give the brand-name makers market control.
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