Editor’s Note: This article is a summary of the 21^st Century Cures Act. Colorado PERA does not have a position on this federal legislation, rather we wanted to let PERA on the Issues readers know about this bill which has received recent media coverage. Share your thoughts about this legislation with us and other readers in the Comments section at the end of the article.

On December 7, the U.S. Senate voted to approve legislation previously passed by the House of Representatives that will overhaul the development of medical treatment and speed up the review and approval for certain medical drugs and devices.

The 21^st Century Cures Act, as it is known, will speed new medicines to market and authorizes an additional $4.8 billion in spending for medical research.

President Obama has committed to signing the bill, saying it “could help us find a cure for Alzheimer’s…end cancer as we know it and help those seeking treatment for opioid addiction.”

Along with Rep. Diana DeGette, D-CO, the bill had bipartisan support and was co-sponsored by Rep. Fred Upton, R-MI. The House co-sponsors described “a new day for medical research” on the horizon.

This “vote is for patients and their loved ones. We all have more reason for hope,” they said.

There is plenty to like in the legislation, from new funding for Alzheimer’s research and precision medicine to Vice President Joe Biden’s cancer moonshot as well as prevention and treatment of opioid addiction that has devastated both urban and rural communities.

The bill is not without its critics, however.

“We were already seeing weakening of FDA standards under the Obama administration,” attorney Sarah Sorscher of the Public Citizen Health Research Group told The Wall Street Journal. She cited the recent example of the FDA approving a muscular dystrophy drug that didn’t prove any benefit in outcomes of patients.

“Industry will be emboldened by this legislation, and under a deregulation-minded commissioner, will seek further changes in the FDA regulatory scheme,” said Michael Carome, director of the Public Citizen health group.

Sens. Elizabeth Warren, D-MA., and Bernie Sanders, I-VT both spoke out about the bill.

“If you want to lower the outrageous cost of prescription drugs, vote against this bill,” Sanders said on the Senate floor Tuesday. “It is time to stand up against the pharmaceutical industry and stand up with the American people who are tired of being ripped of by this extremely greedy industry.”

Read The Denver Post guest editorial by Rep. Diana DeGette.

Read the Kaiser Health News 21^st Century Cures Act summary.