Referred to the Committee on Energy and Commerce, and in addition to the Committees on the Judiciary, and Financial Services, 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.
This bill establishes a federal price regulation system for prescription drugs by requiring the Secretary of Health and Human Services to publish "fair prices" for all approved medications, biologics, insulin, and vaccines based on recommendations from a new Prescription Drug Price Regulatory Commission. Drug manufacturers must offer these fair prices to eligible patients, pharmacies, hospitals, and healthcare providers beginning in 2027, with fair prices to be published by July 1 of the preceding year. Manufacturers who fail to comply face substantial civil penalties equal to 10 times the price difference multiplied by the number of units sold. The bill uses pricing data from comparable reference countries including Canada, France, Germany, Italy, Japan, and the United Kingdom to establish fair prices, though the Secretary may adjust prices if circumstances change significantly or temporarily waive requirements to ensure drug availability.
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