Bill > S1218

This bill, the Fair Prescription Drug Prices for Americans Act, aims to cap the retail list price of prescription drugs and biological products sold in the United States. The key provisions of the bill are: 1) The retail list price in the U.S. for a drug or biological product cannot exceed the average retail list price for the same product in Canada, France, Germany, Italy, Japan, and the United Kingdom, as calculated by the Secretary of Health and Human Services. 2) Manufacturers must submit annual data on the list prices of their drugs and biological products in the U.S. and the six reference countries, and 3) Manufacturers that violate the price cap will be subject to a civil monetary penalty of 10 times the difference between the U.S. list price and the average international list price.