“A bill to amend title XVIII of the Social Security Act to strengthen the drug pricing reforms in the Inflation Reduction Act.”
No CRS summary available for this bill.
This section revises the Medicare Drug Price Negotiation Program—under which the Department of Health and Human Services selects high-cost, single-source Part D drugs for negotiation of maximum fair prices—effective for initial price applicability years beginning with 2028, by (1) increasing the maximum number of negotiation-eligible drugs that may be selected for 2028 and subsequent years to 50 (from 15) and striking the separate provision for subsequent years; (2) shortening, in the definition of qualifying single source drug, the exclusion period for drugs approved under specified FDA pathways from 7 years to 3 years and for biological products licensed under specified FDA pathways from 11 years to 3 years; and (3) revising the upper limits on maximum fair prices to 76 percent (from 75 percent) for drugs less than 9 years after introduction, 55 percent (from 65 percent) for drugs 9–12 years after introduction, and 30 percent (from 40 percent) for drugs more than 12 years after introduction.