pass regulatory legislation that would make the pharmaceutical industry more competitive and lower the cost of Rx drugs

Major pharmaceutical manufactures manipulate patent laws and corner the market. They have monopolies with their drugs and rest of their laurels. They can essentially charge whatever they want for prescription drugs.
I propose pushing legislation that would limit patent life and overall reach. We need some way to make big drug companies more productive and directly competitive to drive down the cost of medicine, while spurring innovation.