Biogenerics bill could squeeze biotechs, if it passes - Apr. 30, 2007: "NEW YORK (CNNMoney.com) -- Lawmakers are pushing forward with legislation that could help create generic competition for Big Biotech, drastically lowering the costs of expensive biotech drugs and changing the landscape in the pharmaceutical industry forever.
The Senate is expected to vote Wednesday on a bill that would extend the 15-year-old process of requiring drug companies to pay fees to the Food and Drug Administration to help fund the drug review process. Advocates say the law has helped streamline the review process so that it takes months instead of years to get lifesaving drugs approved for the market.
More drug news
On the same day the Senate is voting, members of the House Energy and Commerce Committee are holding a hearing on a bill that would create a way for the FDA to review generic biotech drugs. Right now, there's nothing on generic biotech drugs in the Senate bill, and there's no guarantee that the bill will be modified."
