S7350 CONGRESSIONAL RECORD — SENATE July 25, 2002 under the 180-day marketing exclu- Transparency Act of 2002, and that it Mr. DURBIN. Madam President, I sivity provision. Before we change the be considered under the following limi- move to reconsider the vote. law, let us have a serious re-examina- tations: That there be a time limita- Mr. REID. I move to lay that motion tion of whether to retain the 180-day tion of 2 hours equally divided and con- on the table. marketing exclusivity in its current trolled between the chair and ranking The motion to lay on the table was form both in terms of the length of the member of the committee or their des- agreed to. exclusivity period and whether the re- ignees; that upon the use or yielding The PRESIDING OFFICER. Under wards for successful invalidity and back of time, without further inter- the previous order, the Senate insists non-infringement challenges should be vening action or debate, the Senate on its amendments and requests a con- treated identically. proceed to vote on adoption of the con- ference with the House on the dis- I urge my colleagues, as well as con- ference report. agreeing votes of the two Houses. sumer organizations and pharma- The PRESIDING OFFICER. Is there The PRESIDING OFFICER appointed ceutical purchasers such as insurers objection? Mr. DURBIN, Mr. JOHNSON, Mr. REED of and self-insured businesses to reflect Without objection, it is so ordered. Rhode Island, Mr. BYRD, Mr. BENNETT, Mr. STEVENS, and Mr. COCHRAN con- upon what I have said on this subject f today. ferees on the part of the Senate. This is an area in which I think we LEGISLATIVE BRANCH APPRO- f PRIATIONS ACT, 2003—Resumed would be wise to reject Senator SCHU- GREATER ACCESS TO AFFORD- MER’s argument that all we are doing The PRESIDING OFFICER. Under ABLE PHARMACEUTICALS ACT with this legislation is restoring the the previous order, the Senate will pro- OF 2001—Continued integrity of the old Hatch-Waxman ceed to vote on H.R. 5121, the Legisla- The PRESIDING OFFICER. Under Act. But why should we be governed by tive Branch Appropriations Act. the previous order, the Senate will re- the world of 1984 when, for example, Mr. REID. Mr. President, I ask for sume consideration of S. 812. The the best selling drugs in this country the yeas and nays on the legislative Rockefeller amendment No. 4316 is have increased sales by a factor of 10? branch appropriations bill. agreed to, and the motion to reconsider Why should the value of the marketing The PRESIDING OFFICER. Is there a that vote is laid on the table. exclusivity reward increase in direct sufficient second? proportion? The amendment (No. 4316) was agreed There is a sufficient second. to. On a number of occasions, I have The question is on agreeing to the commended Senator SCHUMER and Sen- conference report. The clerk will call f ator MCCAIN for moving their legisla- the roll. SARBANES-OXLEY ACT OF 2002— tion forward, even if the bill that came The legislative clerk called the roll. CONFERENCE REPORT out of the HELP Committee does not Mr. NICKLES. I announce that the The PRESIDING OFFICER. Under resemble very closely their bill, and I Senator from North Carolina (Mr. the previous order, the Senate will pro- still have problems with the floor vehi- HELMS) is necessarily absent. ceed to the consideration of the con- cle as I have laid out in some detail. I The PRESIDING OFFICER (Mrs. ference report to acompany H.R. 3763, commend them again today. CARNAHAN). Are there any other Sen- which the clerk will report. I hope to return to the floor before ators in the Chamber desiring to vote? The legislative clerk read as follows: this debate ends to offer a few sugges- The result was announced—yeas 85, The committee of conference on the dis- tions for a more comprehensive ap- nays 14, as follows: agreeing votes of the two Houses on the proach to reforming the Drug Price [Rollcall Vote No. 191 Leg.] amendment of the Senate to the bill (H.R. Competition and Patent Term Restora- YEAS —- 85 3763), to protect investors by improving the tion Act. accuracy and reliability of corporate disclo- This in no way minimizes the impor- Akaka Durbin McConnell sures made pursuant to the securities laws, Allen Edwards Mikulski and for other purposes, having met, have tance of he matters that are the sub- Baucus Feingold Miller ject of the pending legislation, because Bennett Feinstein Murkowski agreed that the House recede from its dis- they are important areas. I do not be- Biden Frist Murray agreement to the amendment of the Senate, Bingaman Graham Nelson (FL) and agree to the same with an amendment, lieve, however, that these are the most Bond Grassley and the Senate agree to the same, signed by important issues we can address. Nelson (NE) Boxer Gregg Nickles a majority of the conferees on the part of Breaux Hagel Rather than focusing on how best to Reed both Houses. Burns Harkin bring the law back to the old days of Reid Byrd Hatch The PRESIDING OFFICER. The Sen- 1984, as Senator SCHUMER suggests, I Campbell Hollings Rockefeller ate will proceed to the consideration of want to discuss ways to modify the law Cantwell Hutchinson Santorum Sarbanes the conference report. to help usher in a new era of drug dis- Carnahan Hutchison (The report is printed in the House Carper Inouye Schumer covery while, at the same time, in- Chafee Jeffords Sessions proceedings of the RECORD of July 24, creasing patient access to the latest Cleland Johnson Shelby 2002.) medicines. Clinton Kennedy Smith (OR) The PRESIDING OFFICER. The Sen- Mr. President, I yield the floor. Cochran Kerry Snowe ator from Nevada is recognized. Collins Kohl Specter f Corzine Kyl Stabenow Mr. REID. Madam President, I sug- Craig Landrieu gest the absence of a quorum and ask ORDER OF PROCEDURE Stevens Crapo Leahy Thompson that the time not be charged against Mr. REID. Mr. President, I ask unan- Daschle Levin Thurmond Dayton Lieberman either manager. imous consent that following disposi- Torricelli The PRESIDING OFFICER. Without DeWine Lincoln Warner tion of H.R. 5121, the legislative branch Dodd Lott Wellstone objection, it is so ordered. The clerk Domenici Lugar appropriations bill, Rockefeller amend- Wyden will call the roll. ment No. 4316 be agreed to, and the mo- Dorgan McCain The legislative clerk proceeded to tion to reconsider be laid on the table. NAYS —- 14 call the roll. The PRESIDING OFFICER. Is there Allard Ensign Roberts Mr. SARBANES. Madam President, I objection? Bayh Enzi Smith (NH) ask unanimous consent that the order Without objection, it is so ordered. Brownback Fitzgerald Thomas Bunning Gramm Voinovich for the quorum call be rescinded. Mr. REID. Mr. President, I ask unan- Conrad Inhofe The PRESIDING OFFICER. Without imous consent that immediately fol- objection, it is so ordered. NOT VOTING—1 lowing action on adoption of the Mr. SARBANES. Madam President, Rockefeller amendment, the Senate Helms parliamentary inquiry of the Chair: proceed to the consideration of the The bill (H.R. 5121) was passed, as fol- What is pending before the Senate? conference report to accompany H.R. lows: The PRESIDING OFFICER. The de- 3763, the Corporate and Auditing Ac- (The bill will be printed in a future bate on the conference report is lim- countability, Responsibility, and edition of the RECORD.) ited to 2 hours equally divided. VerDate Mar 15 2010 20:55 Jan 09, 2014 Jkt 081600 PO 00000 Frm 00028 Fmt 4624 Sfmt 0634 E:\2002SENATE\S25JY2.REC S25JY2 mmaher on DSKCGSP4G1 with SOCIALSECURITY July 25, 2002 CONGRESSIONAL RECORD — SENATE S7351 Mr. SARBANES. So there is 1 hour him very much for all his contribu- seeks to address the statement of pro on each side. tions. forma earnings, in order to assure a The PRESIDING OFFICER. The Sen- Before addressing the major provi- more complete and accurate picture of ator is correct. sions of the legislation, let me make a public company’s financial position. Mr. SARBANES. Madam President, I very clear that it applies exclusively to It also addresses the conflicts of in- yield myself 10 minutes. public companies—that is, to compa- terests that arise for stock analysts to The PRESIDING OFFICER. Without nies registered with the Securities and whom investors look for impartial re- objection, it is so ordered. Exchange Commission. It is not appli- search-based advice about stocks. Un- Mr. SARBANES. Madam President, I cable to provide companies, who make fortunately, many of these analysts are am very pleased that we are now con- up the vast majority of companies under pressure to promote stocks in sidering the conference report on the across the country. which their broker-dealer firms may Public Company Accounting Reform This legislation prohibits accounting have an investment banking interest; and Investor Protection Act of 2002. firms from providing certain specified on the one hand they are supposed to The Senate approved this legislation consulting services if they are also the give unbiased advice to potential pur- on July 15 on a 97–0 vote. Conferees auditors of the company. In our consid- chasers of stock, whether to buy or were named promptly both here and in ered judgment, there are certain con- sell, but at the same time the firm of the House, and the conference com- sulting services which inherently carry which they are a part is interested in mittee immediately went to work. with them significant conflicts of in- developing a business relationship with Agreement was reached yesterday in terest.