New Bureau to Lower Prescription Drug Costs and Ensure Patient Access
This Act establishes a new Bureau of Prescription Drug Affordability and Access within HHS to lower prescription drug costs for patients. The Bureau is authorized to review drug prices, determine if they are appropriate, and mandate that manufacturers remit excess revenue, which is to be distributed to impacted patients. The legislation also repeals the noninterference clause in Medicare, allowing for price negotiations.
Key points
Establishment of a Bureau empowered to review drug prices and determine if they are "appropriate" based on factors like international prices and therapeutic benefits.
Requirement for manufacturers to disclose detailed information regarding R&D costs, marketing, revenue, and federal support received.
If a price is deemed not appropriate, manufacturers must lower the cost and remit excess revenue, which is to be distributed to impacted patients.
Repeal of the noninterference clause in the Social Security Act, removing the ban on negotiating drug prices under Medicare Part D.
Status:
Expired
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