Public Database Tracks Taxpayer Funding for Drug Research and Product Prices.
This law mandates the creation of a public, searchable database detailing all Federal support—including grants, contracts, and tax benefits—for biomedical research, drugs, and medical devices. Citizens will gain unprecedented transparency, allowing them to see exactly how much taxpayer money funded specific medical innovations and what the resulting product prices are. This aims to increase accountability in healthcare spending.
Key points
A new public database will compile all Federal financial and non-financial support provided for the development of medical products.
The database must disclose crucial details, including the names of the resulting products, their market prices, associated patents, and full contract terms.
Entities receiving Federal support are required to disclose this information promptly, facing daily financial penalties for non-compliance.
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