[Congressional Record (Bound Edition), Volume 146 (2000), Part 13]
[Extensions of Remarks]
[Page 18774]
[From the U.S. Government Publishing Office, www.gpo.gov]



            INTRODUCTION OF THE DRUG COMPETITION ACT OF 2000

                                 ______
                                 

                          HON. HENRY A. WAXMAN

                             of california

                    in the house of representatives

                     Wednesday, September 20, 2000

  Mr. WAXMAN. Mr. Speaker, I rise today to introduce the Drug 
Competition Act of 2000.
  This legislation would correct a grossly anticompetitive abuse by 
branded and generic drug companies of the generic drug approval 
process. Only recently have we learned that such companies, which 
usually operate as fierce competitors to the benefit of American 
consumers, can strike collusive agreements to trade multimillion dollar 
payoffs by the brand company for delays in the introduction of lower 
cost, generic alternatives.
  These sweetheart deals have earned the scrutiny of the Federal Trade 
Commission and the Food and Drug Administration. The FTC recently 
undertook consent agreements and enforcement actions against several 
companies which have engaged in such deals. But more can be done to 
prevent them from recurring.
  I am very pleased to have collaborated with Senator Leahy of Vermont, 
the ranking member of the Senate Judiciary Committee, in drafting this 
legislation. The Drug Competition Act would simply require companies 
seeking to reach secret, anticompetitive agreements to disclose them to 
the FTC and FDA. Disclosure of these agreements would enable Federal 
authorities to ensure that existing antitrust and drug approval laws 
are enforced to the letter. In sum, American consumers can be protected 
from anticompetitive abuses by the application of a little 
``sunshine.''
  I am very pleased this bill is being introduced with bipartisan 
support, and I urge my colleagues to join us in cosponsoring the Drug 
Competition Act of 2000.

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