Combating High Drug Prices: New US Trade Tools
This act aims to lower drug prices in the US by addressing unfair trade practices of other countries that depress drug prices. This means the US government will actively work to ensure Americans do not bear a disproportionate share of the costs of drug research and development, potentially leading to more affordable prices and better access to innovative treatments.
Key points
Establishes a Chief Pharmaceutical Trade Negotiator to advocate for US pharmaceutical manufacturers and consumers.
Requires annual reporting and identification of countries engaging in unfair pricing practices that harm innovation and drug access in the US.
Mandates a response plan for adverse trade actions, including potential trade investigations, to protect American patients and taxpayers.
Status:
Introduced
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