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Prescription Drug Price Relief Act: Ending High-Cost Monopolies

This act aims to lower prescription drug prices in the U.S. It establishes a process to identify drugs with prices higher than in other countries, then allows for the production of cheaper alternatives. This could lead to lower healthcare costs and improved access to essential medications for citizens.
Key points
The government will compare U.S. drug prices with those in Canada, UK, Germany, France, and Japan to identify overpriced drugs.
If a drug is deemed excessively priced, the government can allow other companies to produce cheaper versions, increasing competition.
Drug manufacturers must regularly report pricing and cost data, facing penalties for non-compliance.
A public database will be created, allowing anyone to see which drugs are overpriced and for which cheaper alternatives are available.
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Additional Information
Prescription Drug Price Relief Act of 2021
Print number: S 909
Sponsor: Sen. Sanders, Bernard [I-VT]
Process start date: 2021-03-23