Lowering Drug Prices: New Rules for Taxpayer-Funded Medicines.
This bill aims to reduce the cost of prescription drugs and medical services developed with federal research funds. Companies will be required to offer reasonable prices, not exceeding those in other high-income countries, potentially leading to lower healthcare costs for citizens. The act also introduces greater transparency in drug production costs.
Key points
Drugs and medical services developed with public funds must be sold at reasonable prices.
Prices in the U.S. cannot exceed the median prices in Canada and six other high-income countries.
Companies must report clinical trial costs and annual revenues from drug sales.
Potential price reductions if revenues exceed targets or prices create access barriers.
Expired
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