Bill > S3411

This bill, the Affordable Medications Act, aims to improve transparency, access, affordability, innovation, and competition in the prescription drug market. Key provisions include: - Requiring drug manufacturers to report detailed financial and sales information on their prescription drugs, including research and development costs, marketing expenses, and patient assistance programs. This information would be publicly available. - Allowing the Secretary of Health and Human Services to negotiate drug prices for Medicare Part D, and setting prices based on the lower of the Department of Veterans Affairs price or the "Big Four" federal price if negotiations fail. - Imposing an excise tax on prescription drugs with excessive price spikes, with the tax revenue used to fund drug research, reduce patient cost-sharing, and lower health insurance premiums. - Allowing the importation of qualifying prescription drugs from Canada and potentially other countries with comparable safety standards. - Requiring drug manufacturers to provide rebates for drugs dispensed to low-income Medicare beneficiaries. - Capping out-of-pocket prescription drug costs for people with private insurance and coverage through the Affordable Care Act. - Establishing a prize fund to incentivize the development of new antibiotics. - Limiting anti-competitive practices that delay generic drug competition.

Budget and Finance

https://www.congress.gov/bill/115th-congress/senate-bill/3411/all-info