Bill > HR3391

This bill aims to combat high prescription drug prices by requiring the Secretary of Health and Human Services (HHS) to establish annual reference prices for prescription drugs across multiple federal health programs, including Medicare, Medicaid, TRICARE, Veterans Affairs, Federal Employees Health Benefits, and Indian Health Services. The reference price would be determined by either finding the lowest retail list price among 12 specified countries (such as Canada, Germany, and the UK) or by evaluating factors like therapeutic effect, development costs, and patient access when international pricing data is unavailable. Drug manufacturers would be required to offer prescription drugs at or below these reference prices for all individuals, including those with private insurance and uninsured patients. Manufacturers who fail to comply would face significant civil penalties equal to five times the difference between their actual sales and what they would have received at the reference price. Notably, these reference prices would apply to both brand-name and generic drugs. Any collected penalties would be transferred to the National Institutes of Health to fund future drug research and development, thereby creating a potential reinvestment mechanism in pharmaceutical innovation while controlling drug prices.

Business and Industry, Health and Social Services

https://www.congress.gov/bill/119th-congress/house-bill/3391/all-info