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Medical Innovation Prize Act of 2005

Introduced: January 26, 2005 Introduced by: Sanders, Bernard Independent · Vermont See on congress.gov
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 Everywhere this bill has been 6 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 2, 2005
Referred to the Subcommittee on Courts, the Internet, and Intellectual Property.
Feb 25, 2005
Referred to the Subcommittee on Health.
Feb 2, 2005
Sponsor introductory remarks on measure. (CR E149)
Jan 26, 2005
Referred to the Committee on Energy and Commerce, and in addition to the Committee on the Judiciary, 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.
Jan 26, 2005
Sponsor introductory remarks on measure. (CR E130-131)
Jan 26, 2005
Introduced in House
 Plain-English summary Congressional Research Service

Medical Innovation Prize Act of 2005 - Prohibits any person from having the right to exclusively manufacture, distribute, sell, or use a drug, a biological product, or a manufacturing process for a drug or biological product in interstate commerce, notwithstanding current Federal laws providing otherwise, including laws governing patent rights or exclusive marketing periods.

Establishes the Fund for Medical Innovation Prizes. Requires the Board of Trustees for the Fund to award prize payments for medical innovations relating to a drug, biological product, or manufacturing process for a drug or biological product. Requires an eligible award recipient to be either the first person to receive market clearance or the holder of the patent. Directs the Board to consider: (1) the number of patients who benefited from the drug, including non-U.S. patients; (2) the incremental therapeutic benefit of the drug to treat the same disease or condition; (3) the degree to which the drug addresses priority health care needs, such as global infectious diseases and neglected diseases that primarily afflict the poor in developing countries; and (4) the improved efficiency of manufacturing processes for drugs or biological processes. Allows the Board to award prize payments for no more than ten years. Allocates certain minimum payments from the Fund for priority research and development.

Requires the Comptroller General to conduct an audit to determine the Board's effectiveness in bringing to market new drugs, vaccines, biological products, and manufacturing processes in a cost-effective manner and addressing society's global medical needs.

What's happening now March 2, 2005

Referred to the Subcommittee on Courts, the Internet, and Intellectual Property.

 Committees of jurisdiction 4