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Drug Supply Security: Facilitating Pharmaceutical Trade and Production

This act aims to enhance the security of drug supplies, especially during emergencies, by facilitating international trade and pharmaceutical production. Citizens can expect greater availability of medicines and more stable prices due to streamlined regulatory processes and international cooperation. These changes are intended to reduce the risk of drug shortages in the market.
Key points
Easier Drug Trade: Reducing or eliminating tariffs and regulatory barriers on drug imports, especially in emergencies.
Support for Drug Production: Promoting faster approval of manufacturing facilities and processes, and encouraging investment in pharmaceutical production.
Increased Transparency and Cooperation: Information sharing among countries to prevent supply chain issues and coordinate actions in the pharmaceutical sector.
Extension of Trade Agreement Authority: The U.S. government gains more time to negotiate new trade agreements, which may impact future drug import and export conditions.
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Additional Information
Print number: 117_HR_4711
Sponsor: Rep. Joyce, John [R-PA-13]
Process start date: 2021-07-27