Drug Manufacturer Fees to Boost Federal Medical Research Funding
This Act introduces new supplemental payments for large pharmaceutical manufacturers that have achieved billion-dollar sales and entered into legal settlements related to violations. These funds are earmarked to significantly increase federal investment in medical research, focusing on chronic diseases and supporting early-career scientists. Citizens stand to benefit from accelerated medical innovation and the development of better treatments in areas where current therapies are inadequate.
Key points
New Fees: Drug manufacturers with "blockbuster" products (over $1 billion in sales) developed with federal funding, and who have entered into covered legal settlements (over $1 million), must pay supplemental fees.
Research Funding Boost: Collected funds (ranging from 0.75% to 1.5% of net income) will be distributed to the National Institutes of Health (NIH) and the Food and Drug Administration (FDA) for priority medical research.
Research Priorities: Funds must support radical innovation, research on chronic and degenerative diseases, conditions with unmet medical needs, and provide grants to support early-career scientists.
Non-Compliance Penalty: Failure by a manufacturer to remit the assessed payment for a covered blockbuster drug will result in the drug being deemed "misbranded" under federal law until the payment is made.
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