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Fair Accountability and Innovative Research Drug Pricing Act of 2016

Introduced: September 15, 2016 Introduced by: Schakowsky, Janice D. Democratic · Illinois See on congress.gov

Everywhere this bill has been 2 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Sep 15, 2016

Referred to the House Committee on Energy and Commerce.

Sep 15, 2016

Introduced in House

Plain-English summary Congressional Research Service

Fair Accountability and Innovative Research Drug Pricing Act of 2016

This bill amends the Public Health Service Act to require manufacturers of certain drugs and biological products to report to the Department of Health and Human Services (HHS) price increases that result in a 10% or more increase in the price of a drug over a 12-month period. Reports are required for prescription drugs and drugs commonly administered in hospitals, except vaccines, drugs for rare conditions, and drugs with annual sales for Medicare and Medicaid enrollees of less than $1.

Manufacturers that do not submit a required report are subject to a civil penalty. The Inspector General of HHS must review drug price information to determine compliance. Collected penalty funds must be used to carry out activities related to this reporting requirement and to improve consumer and provider information about drug value and drug price transparency.

HHS must publish manufacturer reports, a summary of those reports, and supporting analyses.

What's happening now September 15, 2016

Referred to the House Committee on Energy and Commerce.

Committees of jurisdiction 1