The Short on Competition Act aims to expedite approval of generic drugs and allow temporary importation of prescription drugs in cases of drug.
The Short on Competition Act amends the Federal Food, Drug, and Cosmetic Act to facilitate the expedited approval of generic prescription drugs and the temporary importation of prescription drugs. This is particularly relevant in situations where there are drug shortages or when the market for a drug is marginally competitive. The act defines a marginally competitive market as one where fewer than five drugs are available for at least two consecutive months.
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