Drug Price Competition and Patent Term Restoration Act

Definition of Drug Price Competition and Patent Term Restoration Act from the PharmacyDictionary.in

Drug Price Competition and Patent Term Restoration Act

Passed in 1984, this act extended the patent terms for pharmaceutical products meeting certain criteria, and authorized procedures for the approval of generic versions of prescription drugs first approved after 1962; also known as the “Waxman-Hatch Act”.

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