Bills would speed biosimilar competition

Rep. Janice Schakowsky (D-Ill.) and Sens. John McCain (R-Ariz.) and Sherrod Brown (D-Ohio) introduced the Price Relief, Innovation and Competition for Essential Drugs (PRICED) Act in the U.S. House of Representatives and Senate. The bills would shorten the exclusivity period for branded biologics to seven years from 12, hastening biosimilar competition.

In a statement, BIO said the bills would discourage venture investment in biotech start-ups, and would disrupt the existing balance between the need to promote investment in therapeutics and the goal of giving patients the choice to use biosimilars after "a reasonable period of exclusivity" for an innovator product. ...