On the recordSeptember 19, 2000
most Americans know that the cost of pharmaceutical drugs is at a record high. Prescription drug costs rose 85 percent between 1993 and 1998, and prescription drugs represent the highest out-of-pocket expense for three out of four senior citizens. Generic drugs are FDA approved to be safe and to be secure, but they cost 70 percent less than brand name drugs. The fact of the matter is, there are loopholes in today's laws that block entry to these affordable generic drugs. This Congress needs to reform the Hatch-Waxman Act to improve competition and make our markets more accessible and fair. Let us end the brand drug monopoly that stifles competition, restricts our consumers' choice, and raises consumer drug prices.
Source
govinfo.gov
