00:00 Senator Graham. Thank you, Mr. Chairman. So we've acted in the past
00:04 unanimously to there seems to be two lanes here patent abuse
00:09 Changing the patent in a small way to extend it
00:14 Delaying generic entry into the market
00:18 Every day they can keep the patent going and keep the generic out of the drug store is a good day for them
00:26 the other is
00:30 Countries like Canada same drug a lot lower and cost there's two ways to deal with it
00:35 I guess what I'd like to do is let countries know that most of these drugs are developed in the United States
00:41 And the drug company has a right to get its money back if a foreign country is basically
00:46 subsidizing a drug
00:49 Putting a burden on the American consumer to have to pay a higher price. I think that's an unfair trade practice
00:57 So I'd like to go down that road
01:00 The bottom line this is social media all over again. We pass all these bills
01:06 We have a common view of the problem and nothing ever happens
01:09 So Wednesday, we're going to challenge the Senate to take up some of the social media reforms that we have
01:16 Reported out of this committee unanimously. I'd like to put
01:20 this in that same bucket I
01:22 mean, we're about as diverse a collective group of people you could find in the Senate and
01:29 Count me in
01:31 Count me in for like challenging the patent system
01:34 Count me in for trying to find ways to help the American consumer
01:38 Versus people in other countries. I'm very open-minded
01:42 About stopping abuse what I don't want to do is kill the goose that laid the golden egg
01:48 I don't want to create a system where we stop developing new drugs that enrich our lives
01:54 I think everybody who spends money like, you know, it's like drilling for all sometimes you have a dry hole and you just
02:01 You know you write that off. The goal is to enhance
02:05 medical
02:08 Science and
02:10 Deal with sheer greed for lack of a better word
02:14 This has to stop. I don't mind you getting your money back
02:18 I want you to make a profit
02:19 But the idea of playing games with patents needs to stop and I'm more open-minded about the advertising than I've ever been
02:27 You know, I mean I see these ads. I don't know. Why do I need to know that? I
02:33 Mean, why can't I trust my doctor that if a generic works it works?
02:38 so
02:41 Let's work together and when we pass something out of the committee
02:46 Let's go to the floor and challenge the Senate to let it go
02:49 So it's a good hearing. I'm glad you're doing it.
