Medicare Negotiation and Competitive Licensing Act
This act requires the Secretary of Health and Human Services to negotiate drug prices under the Medicare program. It introduces a competitive licensing mechanism if negotiations fail and imposes an excise tax on drugs subject to price spikes. The negotiated prices are to apply to other federal programs, private insurers, and uninsured individuals.
Key points
The Secretary of Health and Human Services will negotiate prices for specified drugs under the Medicare program.
An excise tax is introduced for manufacturers in the event of defined price spikes (price increases exceeding inflation).
Drug prices negotiated by Medicare will also apply to other private insurers and uninsured individuals.
If price negotiations are unsuccessful, the government may authorize the use of patents and clinical data to allow other entities to manufacture the drug (competitive licensing).
Drug manufacturers will be required to report detailed data regarding research and development costs, marketing, and revenues.
Expired
Citizen Poll