The CREATES Act sounds like a winner to LITD

It's a free-market approach to prescription drug prices, and it has bipartisan support. And we do mean bipartisan. Look at the diversity - how's that for an actually apt use of that hackneyed term? - array of supporters:

Many of the same legislators that pushed Obamacare are now trying to push another healthcare fix down the throats of the American people: prescription drug price controls. They point to rising prescription drug prices and suggest that the only solution is for more government involvement.

That’s a false choice. Instead, the solution to out-of-control prescription drug prices is more competition and fewer loopholes that prevent it. A bill in Congress, the CREATES Act, would do just that.

In an era where bipartisan cooperation is near an all-time low, in the Senate the CREATES Act is co-sponsored by Democrats and Republicans alike, including Sens. Chuck Grassley (R-Iowa), Ted Cruz (R-Texas), Dianne Feinstein (D-Calif.) and Amy Klobuchar (D-Minn.). If that group can agree, Congress should be able to move forward. It’s also supported by groups from the AARP and AFL-CIO to FreedomWorks and the Heritage Foundation.

Sources on the Hill say that President Trump is telling sponsors he supports the CREATES Act. And during his State of the Union Address, the president said reducing prescription drug prices is one of his “greatest priorities”:

One of my greatest priorities is to reduce the price of prescription drugs. In many other countries, these drugs cost far less than what we pay in the United States. That is why I have directed my Administration to make fixing the injustice of high drug prices one of our top priorities. Prices will come down.

The beauty of the CREATES Act is in how it solves the drug price issue, while still respecting the free market and patent rights.

The mechanism in the act that does both these things allows generic-drugmakers to get their hands on the patented brand-name versions in time to be ready to go to market when the patent runs out on the brand-name version:

 . . . the CREATES Act would enable generic manufacturers to sue the brand-name pharmaceutical company in federal court for injunctive relief to obtain the sample it needs [to prove its product is just like the brand-name version], or to enter court-supervised negotiations for a shared safety protocol). The legislation also authorizes a judge to award damages to deter future delaying conduct.

The Congressional Budget Office estimates that the CREATES Act would save taxpayers $3.6 billion, while maintaining high safety standards of those generic drugs.

This is a win for patients, taxpayers and the pharmaceutical industry by upholding patent law and empowering the free market.

What's not to like?