Preserve Access to Affordable Generics and Biosimilars Act

Bill 119 s 1096, also known as the "Preserve Access to Affordable Generics and Biosimilars Act," aims to address the issue of brand name drug companies paying generic drug companies to delay the entry of generic drugs into the market. This practice, known as "pay-for-delay," can result in higher drug prices for consumers and limit competition in the pharmaceutical industry.

The bill specifically prohibits brand name drug companies from compensating generic drug companies to delay the entry of generic drugs into the market. Additionally, it also prohibits biological product manufacturers from compensating biosimilar and interchangeable companies to delay the entry of biosimilar biological products and interchangeable biological products.

By preventing these types of agreements, the bill seeks to promote competition in the pharmaceutical industry and increase access to affordable generic and biosimilar drugs for consumers. This legislation is important in ensuring that patients have access to more affordable medication options and that the market remains competitive. Overall, Bill 119 s 1096 aims to protect consumers from potentially harmful practices that can drive up drug prices and limit access to affordable medications. It is a step towards promoting a more competitive and transparent pharmaceutical industry.