Kohl Bill Would Save Consumers $3.5 Billion Per Year, According To FTC, USA

U.S. Senator Herb Kohl released the following statement on the announcement from U.S. Federal Trade Commission Chairman Jon Leibowitz that banning pay-for-delay settlements that keep generic drugs off the market would save consumers at least $3.5 billion per year and provide significant cost savings for federal government, which pays approximately one-third of all prescription drug costs. Senator Kohl"s bill, the Preserve Access to Affordable Generic Drugs Act (S. 369), would prohibit the anti-consumer practice of brand-name drug manufacturers using pay-off agreements to keep cheaper generic equivalents off the market. Introduced in February with Senators Chuck Grassley (R-IA), Russ Feingold (D-WI), Dick Durbin (D-IL) and Amy Klobuchar (D-MN), the bill is scheduled to be marked up by the Senate Judiciary Committee.