Preserve Access to Affordable Generics and Biosimilars Act

This bill makes it illegal for drug companies to make deals that settle patent disputes if those deals stop or delay cheaper generic or biosimilar versions of drugs from reaching the market. Specifically, it targets agreements where a generic drug maker gets paid or receives something of value in exchange for agreeing not to develop or sell its cheaper product, though some exceptions exist, like payments for legal costs. The Federal Trade Commission would enforce the rules, and companies that break them could face penalties, including losing their special window of time to be the only generic version on the market. The bill also requires drug companies involved in these agreements to share complete details about their deals with the FTC and the Department of Justice.

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