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Capping US Prescription Drug Prices Based on International Averages

This bill aims to lower prescription drug costs for Americans by setting a price ceiling. The retail list price of a drug in the US cannot exceed the average price of that same drug across six major developed nations. Manufacturers who violate this cap face substantial financial penalties, intended to enforce lower pricing.
Key points
US retail drug prices must not exceed the average price found in Canada, France, Germany, Italy, Japan, and the UK.
The goal is to reduce personal healthcare spending on expensive medications by linking US prices to international rates.
Manufacturers exceeding the price cap face a penalty equal to ten times the price difference for every unit sold.
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Additional Information
Fair Prescription Drug Prices for Americans Act
Print number: S 1218
Sponsor: Sen. Hawley, Josh [R-MO]
Process start date: 2023-04-19