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Medical Innovation Act: Funding Research from Drug Company Penalties.

This act aims to boost funding for medical research. Money will come from additional payments imposed on large pharmaceutical companies that profit significantly from drugs developed with public investment and have also entered into legal settlements for violations. This initiative seeks to accelerate the development of new drugs and therapies, especially in areas lacking effective solutions.
Key points
Pharmaceutical companies selling drugs with over a billion dollars in annual sales, partly developed with public funds, will face additional payments.
These payments apply if the company has high net income and has entered into a legal settlement of at least one million dollars for regulatory violations.
Collected funds will go to medical research by the FDA and NIH, focusing on urgent needs and innovation.
The act supports research into diseases lacking effective treatments and promotes early career scientists.
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Additional Information
Print number: 117_S_5322
Sponsor: Sen. Warren, Elizabeth [D-MA]
Process start date: 2022-12-20
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Medical Innovation Act of 2022

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_5322.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2022-12-20.

What are the main provisions?

Key points include:

  • Pharmaceutical companies selling drugs with over a billion dollars in annual sales, partly developed with public funds, will face additional payments.
  • These payments apply if the company has high net income and has entered into a legal settlement of at least one million dollars for regulatory violations.
  • Collected funds will go to medical research by the FDA and NIH, focusing on urgent needs and innovation.
  • The act supports research into diseases lacking effective treatments and promotes early career scientists.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Warren, Elizabeth [D-MA].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

CATEGORIES

Health Public Investments Economy