WAXMAN COUNTERS CRITICS OF BIOLOGICS BILLS
House OversightCommittee ChairmanHenry Waxman (D,Calif) fired back atbrand name drug industrycritics of proposals to streamlineapprovals of generic biologics, chargingthat critics of the pending legislation areattempting to cloud the debate with misinformation.During a new round of congressionalhearings on the proposed bills,Waxman argued that "the big brandname companies have gone beyond legitimateconcern and have thrown up adefensive smoke screen around biologicals.They say there will be problems ofsafety, decreased innovation, and limitedsavings,"he said.
"A new path for FDA to approve genericbiologicals will save patients billions inthe future and will improve access totreatments and cures,"Waxman said. "Forthe sake of patients, their families, publicand private health insurance, and taxpayers,we must find a way to introduce competitionto this market. When a patentexpires, we owe it to consumers to find away, through competition, to lower pricesand still deliver a safe and effective product,"he added.