Preserve Access to Affordable Generics and Biosimilars Act

This bill prohibits "reverse payment" agreements where brand-name drug companies pay generic or biosimilar manufacturers to delay entering the market, which harms competition. It creates a presumption that such agreements are anticompetitive if a generic or biosimilar company receives value in exchange for delaying market entry, with exceptions for standard settlements involving early market entry rights or reasonable litigation expenses. The bill amends the Federal Trade Commission Act to enforce this new prohibition and requires certification of such agreements, aiming to enhance competition and lower drug costs for consumers. This would directly affect brand-name drug companies, generic manufacturers, and biosimilar biological product manufacturers.