Prescription Drug Price Relief Act of 2021
- Last Action
- 10/19/2021
Actions
- 2021-10-19Referred to the Subcommittee on Antitrust, Commercial, and Administrative Law.
- 2021-03-24Referred to the Subcommittee on Health.
- 2021-03-23Referred to the Committee on Energy and Commerce, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
- 2021-03-23Referred to the Committee on Energy and Commerce, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
- 2021-03-23Introduced in House
- 2021-03-23Introduced in House
CRS Summary
As of 2021-03-23 (00)
Prescription Drug Price Relief Act of 2021
This bill establishes a series of oversight and disclosure requirements relating to the prices of brand-name drugs.
Specifically, the bill requires the Department of Health and Human Services (HHS) to review at least annually all brand-name drugs for excessive pricing; HHS must also review prices upon petition. If any such drugs are found to be excessively priced, HHS must (1) void any government-granted exclusivity; (2) issue open, nonexclusive licenses for the drugs; and (3) expedite the review of corresponding applications for generic drugs and biosimilar biological products. HHS must also create a public database with its determinations for each drug.
Under the bill, a price is considered excessive if the domestic average manufacturing price exceeds the median price for the drug in Canada, the United Kingdom, Germany, France, and Japan. If a price does not meet this criteria, or if pricing information is unavailable in at least three of the aforementioned countries, the price is still considered excessive if it is higher than reasonable in light of specified factors, including development cost, revenue, and the size of the affected patient population.
The bill also requires drug manufacturers to report specified financial information for brand-name drugs, including research and advertising expenditures.
Cosponsors (18)
- Jamaal Bowman (D-NY)
- PETER DEFAZIO (D-OR)
- ROSA DELAURO (D-CT)
- Pramila Jayapal (D-WA)
- Mondaire Jones (D-NY)
- BARBARA LEE (D-CA)
- Joe Neguse (D-CO)
- ELEANOR NORTON (D-DC)
- Alexandria Ocasio-Cortez (D-NY)
- Ilhan Omar (D-MN)
- Mark Pocan (D-WI)
- Ayanna Pressley (D-MA)
- Jamie Raskin (D-MD)
- JANICE SCHAKOWSKY (D-IL)
- Rashida Tlaib (D-MI)
- Peter Welch (D-VT)
- Cori Bush (D-MO)
- Mark DeSaulnier (D-CA)
Subjects
- Administrative remedies
- Asia
- Business records
- Canada
- Civil actions and liability
- Competition and antitrust
- Department of Health and Human Services
- Drug safety, medical device, and laboratory regulation
- Europe
- France
- Germany
- Government information and archives
- Government studies and investigations
- Health care costs and insurance
- Health information and medical records
- Inflation and prices
- Intellectual property
- Japan
- Licensing and registrations
Sourced from Congress.gov (public domain).
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.