HR 3093 118th Congress House Health Government information and archives Health care costs and insurance Prescription drugs

Affordable Pricing for Taxpayer-Funded Prescription Drugs Act of 2023

Introduced: May 5, 2023 Introduced by: Hoyle, Val T. Democratic · Oregon See on congress.gov

Everywhere this bill has been 3 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

May 12, 2023

Referred to the Subcommittee on Health.

May 5, 2023

Referred to the House Committee on Energy and Commerce.

May 5, 2023

Introduced in House

Plain-English summary Congressional Research Service

Affordable Pricing for Taxpayer-Funded Prescription Drugs Act of 2023

This bill requires companies that receive federal funding for research (or a license of the rights to a patent or regulatory test data) for a biomedical product or service to agree to set reasonable prices for the resulting biomedical product or service.

The Department of Health and Human Services (HHS) must determine a reasonable price based on a formula that ensures the U.S. price for the product or service is not more than the median price for the product or service in Canada and six other reference countries with, based on specified criteria, large economies and high incomes.

Companies entering these agreements also must report to HHS certain financial information related to the biomedical product or service involved.

What's happening now May 12, 2023

Referred to the Subcommittee on Health.

Committees of jurisdiction 2