The Fair Prescription Drug Prices for Americans Act would cap U.S. prescription drug and biological product prices at the average price charged in six other developed countries: Canada, France, Germany, Italy, Japan, and the United Kingdom. Pharmaceutical manufacturers would be required to submit annual price data to the Department of Health and Human Services, which would calculate the international average and enforce the price ceiling. Any manufacturer charging more than this average in the U.S. market would face civil penalties equal to ten times the price difference for each unit sold. The bill would apply to drugs and biologics approved by the FDA and would require the HHS Secretary to issue implementing regulations and guidance, though no specific funding or timeline is specified in the legislation.
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