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S 935 118th Congress Senate Health

Fair Accountability and Innovative Research Drug Pricing Act of 2023

Introduced: March 22, 2023 Introduced by: Baldwin, Tammy Democratic · Wisconsin See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 22, 2023
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Mar 22, 2023
Introduced in Senate
 Plain-English summary Congressional Research Service

Fair Accountability and Innovative Research Drug Pricing Act of 2023

This bill requires manufacturers to report about certain price increases for prescription drugs and biological products with a wholesale cost of at least $100 per month.

Such reports must include, among other information (1) the percentage price increase, (2) a justification for such increase, (3) the price history of the drug, (4) the total cost to develop the drug, and (5) the total revenue and net profit generated from the drug. Manufacturers are subject to civil penalties for failing to comply with the bill's requirements. Additionally, the Food and Drug Administration must post the information on its website.

What's happening now March 22, 2023

Read twice and referred to the Committee on Health, Education, Labor, and Pensions.

 Committees of jurisdiction 1
 Cosponsors 2
All 2 Democratic 2