Political Quotes

“I rise today to discuss Senate bill, S. 659, the Biologic Patent Transparency Act. This bill would help encourage competition in the prescription drug marketplace and begin to put an end to the harmful patent strategies that block new drugs from coming to market. I am pleased to be sponsoring this legislation with my friend and colleague from Virginia, Senator Tim Kaine, as well as with Senators Portman, Shaheen, Braun, and Stabenow, all of whom have joined us as original cosponsors. Prescription drugs are vital to the health and well-being of Americans, especially our Nation's seniors, 90 percent of whom take at least one prescription drug in any given month. Developing these medicines is a lengthy, expensive, and uncertain process. It often takes more than a decade and can cost billions of dollars to bring a new drug from the laboratory to the patient. Most drugs fail during the clinical trials. If we want new medicines to reach consumers who need them, the companies that invest in this research and development and take the risks necessary must see a fair return on their investment. To encourage such investments, Congress grants inventors limited periods of patent protection during which their products are legally shielded from competition. Rewarding these investments has proven to be beneficial to many Americans.…”