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Senator Dick Durbin says America needs a cure for its cure when it comes to cost. Durbin says he has a plan to curb the cycle of prescription price hikes. He will unveil the FLAT Act (The Forcing Limits on Abusive and Tumultuous (FLAT) Drug Prices Act of 2019) next week along with Iowa Republican Charles Grassley. 

 

Durbin says big Pharma companies are benefitting from a government granted monopoly and that's led to price hikes for drugs old and new. Durbin is especially troubled with the needs to diabetics....

 

 

Durbin's legislation would end Food and Drug Administration exclusivity for a drug with price increases of ten percent in a year. Current monopoly periods of 5 to 12 years for pharmaceuticals prevent production of generic equivalents and Durbin says that opens the door to radical price hikes. 

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