The Skinny Labels, Big Savings Act amends federal patent law to create a legal safe harbor that protects generic drug manufacturers and biosimilar producers from patent infringement lawsuits when they submit applications for FDA approval using narrower labeling that avoids patented uses. Under current law, companies developing generic drugs and biosimilars face the threat of infringement suits simply by filing for approval, even if they plan to market their products only for uses not covered by existing patents. This bill allows manufacturers to pursue FDA approval and market their products with restricted labeling without infringing "method of use" patents, as long as they do not promote or label their drugs for the specific medical conditions claimed in the patent. The legislation applies retroactively to any legal proceedings already underway and affects both traditional generic drugs and biosimilar biological products. By reducing patent litigation risks for generic and biosimilar manufacturers, the bill aims to accelerate competition and lower drug prices for consumers.