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As you well know the cost of healthcare in America is soaring out of control, with many
of the so-called reforms enacted over the last decade only serving to exacerbate the
problem.
There are things that can be done to reverse course. One of them is the CREATES Act,
legislation you have co-sponsored and which is currently before your committee. This
important legislation would correct an inequity in current law that inadvertently allows
some brand name pharmaceutical companies to take advantage of a loophole through
which they can effectively extend their monopoly on the manufacture of drugs past the
life of their patent. It is estimated these abuses cost consumers more than $5 billion per
year in unnecessary pharmaceutical costs. Your bill is targeted at the crony capitalist
behavior we all abhor.
We thank you for your leadership on this issue and strongly encourage you to
schedule a markup of this vital piece of legislation before the summer recess period
begins.
The CREATES Act has bi-partisan support. Allowing it to move forward in your
committee would send a signal to the American people that Congress is serious about
bringing healthcare costs down using market-based methods rather than government fiat
by protecting the right to compete that is the basis of the U.S. economy.
Again, we thank you for your leadership on this issue and urge you to bring the bill up
before the committee.