Drug Price Competition and Patent Term Restoration Act

Drug price competition and patent term restoration act is a law that allows companies to make cheaper versions of brand-name medicines once their patents expire. This means that other companies can make the same medicine and sell it for less money because they didn't have to spend money on research and development. The law also helps the companies who developed the original medicine. They can get an extension on their patent if the FDA took too long to approve it. That means they can keep their exclusive right to sell the medicine for longer and make more money. It's like sharing toys with friends. When you're done playing with a toy and want to share it with others, they can play too. But if you want to keep playing with it, you can ask your friends to wait a little bit before playing with it. This law is kind of the same—they allow other people to play with the same toy, but the person who made the toy gets a little bit more time to play with it by themselves.