Following Senator Hassan’s bipartisan push, federal agencies take steps to reduce prescription drug costs

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WASHINGTON — Following a bipartisan push from Sen. Maggie Hassan (D-NH) and Sen. Bill Cassidy (R-LA), the Patent and Trademark Office (PTO) and Food and Drug Administration (FDA) announced that ‘they would work to close oversight loopholes that delay generic drug approvals and therefore keep drug prices high. Senators Hassan and Cassidy recently wrote a letter to the agencies calling for this action.

“As Granite Staters continues to struggle with high prescription drug costs, we must do all we can to provide relief,” said Senator Hassan. “I am pleased that the Patent and Trademark Office and the Food and Drug Administration have responded to my call to close the oversight gaps that are holding back generic medicines, which will support our collective efforts to lower prices for families. . I will continue to work with my colleagues to reduce prescription drug costs and hold Big Pharma accountable.

The lack of coordination between the PTO and the FDA has allowed the pharmaceutical industry to obtain patents of questionable validity. Through these patents, drugmakers are able to delay entry of generic drugs and extend higher monopoly prices. By taking this action, the agencies will work to close these gaps and contribute to efforts to lower prices.

Senator Hassan is working to reduce health care costs for Granite Staters, including pushing to allow Medicare to negotiate drug prices. The Senate Committee on Health, Education, Labor and Pensions recently voted on a bipartisan basis to pass Senator Hassan’s bipartisan measures that will increase generic drug competition. Additionally, Senator Hassan led successful bipartisan efforts with Senator Cassidy to help end the practice of surprise medical billing, which is now in effect. They also successfully passed their bipartisan legislation to improve education on biosimilar drugs in an effort to increase competition and reduce drug costs.

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