A bi-partisan proposal to reduce Medicaid costs by substituting generic drugs for patented drugs Sens. Ron Wyden (D-OR), Scott Brown (R-Mass.), and John McCain (R-Az) on July 13. The bill is now in the Senate Finance Committee.
Sen. Wyden estimates the initial savings amounts to $300 million, and the bill includes measures for sharing costs with states. The pharmaceutical industry supports the bill and cites a pollconducted at the end of 2010 indicting that voters would prefer to reduce costs of prescription drugs as a mechanism to curtail spending. Over a ten-year period the savings have been estimated to reach $15 billion dollars.