This bill establishes and alters several programs and requirements relating to the prices of prescription drugs.
For example, the bill establishes and alters several requirements under Medicare and Medicaid, including
requiring drug manufacturers to issue rebates to the Centers for Medicare & Medicaid Services for covered drugs under Medicare that cost $100 or more and for which the average manufacturer price increases faster than inflation,
capping annual out-of-pocket spending under the Medicare prescription drug benefit, and
increasing the maximum rebate amount under the Medicaid Drug Rebate Program.
The bill also makes changes relating to market exclusivities and manufacturer price concessions for prescription drugs, including
authorizing the Federal Trade Commission to initiate proceedings against parties to settlements of patent infringement claims that have anticompetitive effects with respect to drugs or biologics,
limiting in certain instances the number of patents that the manufacturer of a biologic can assert in a lawsuit against a company seeking to sell a biosimilar version, and
nullifying regulations relating to the treatment of certain Medicare prescription drug benefit rebates from drug manufacturers for purposes of federal anti-kickback laws.
Bill 117 HR 5237, also known as the Reduced Costs and Continued Cures Act of 2021, aims to address the rising costs of healthcare in the United States while also promoting continued research and development of cures for various diseases. The bill includes provisions to increase transparency in drug pricing, improve access to affordable medications, and incentivize the development of new treatments.
One key aspect of the bill is the establishment of a Drug Price Transparency Board, which would be responsible for monitoring and regulating drug prices to ensure that they are fair and reasonable. The board would also work to increase competition in the pharmaceutical industry, which could help drive down costs for consumers.
Additionally, the bill includes measures to expand access to generic medications and biosimilars, which are lower-cost alternatives to brand-name drugs. This could help make essential medications more affordable for patients, particularly those with chronic conditions who rely on expensive treatments.
Furthermore, the Reduced Costs and Continued Cures Act of 2021 includes provisions to support research and development of new cures and treatments for diseases such as cancer, Alzheimer's, and diabetes. This includes funding for the National Institutes of Health (NIH) and other research institutions to continue their important work in finding cures for these devastating illnesses.
Overall, Bill 117 HR 5237 seeks to strike a balance between reducing healthcare costs for Americans and ensuring that research and development of life-saving cures can continue. By addressing drug pricing, increasing access to affordable medications, and supporting medical research, the bill aims to improve the health and well-being of all Americans.
This bill establishes and alters several programs and requirements relating to the prices of prescription drugs.
For example, the bill establishes and alters several requirements under Medicare and Medicaid, including
requiring drug manufacturers to issue rebates to the Centers for Medicare & Medicaid Services for covered drugs under Medicare that cost $100 or more and for which the average manufacturer price increases faster than inflation,
capping annual out-of-pocket spending under the Medicare prescription drug benefit, and
increasing the maximum rebate amount under the Medicaid Drug Rebate Program.
The bill also makes changes relating to market exclusivities and manufacturer price concessions for prescription drugs, including
authorizing the Federal Trade Commission to initiate proceedings against parties to settlements of patent infringement claims that have anticompetitive effects with respect to drugs or biologics,
limiting in certain instances the number of patents that the manufacturer of a biologic can assert in a lawsuit against a company seeking to sell a biosimilar version, and
nullifying regulations relating to the treatment of certain Medicare prescription drug benefit rebates from drug manufacturers for purposes of federal anti-kickback laws.
Bill 117 HR 5237, also known as the Reduced Costs and Continued Cures Act of 2021, aims to address the rising costs of healthcare in the United States while also promoting continued research and development of cures for various diseases. The bill includes provisions to increase transparency in drug pricing, improve access to affordable medications, and incentivize the development of new treatments.
One key aspect of the bill is the establishment of a Drug Price Transparency Board, which would be responsible for monitoring and regulating drug prices to ensure that they are fair and reasonable. The board would also work to increase competition in the pharmaceutical industry, which could help drive down costs for consumers.
Additionally, the bill includes measures to expand access to generic medications and biosimilars, which are lower-cost alternatives to brand-name drugs. This could help make essential medications more affordable for patients, particularly those with chronic conditions who rely on expensive treatments.
Furthermore, the Reduced Costs and Continued Cures Act of 2021 includes provisions to support research and development of new cures and treatments for diseases such as cancer, Alzheimer's, and diabetes. This includes funding for the National Institutes of Health (NIH) and other research institutions to continue their important work in finding cures for these devastating illnesses.
Overall, Bill 117 HR 5237 seeks to strike a balance between reducing healthcare costs for Americans and ensuring that research and development of life-saving cures can continue. By addressing drug pricing, increasing access to affordable medications, and supporting medical research, the bill aims to improve the health and well-being of all Americans.
Alternative Names
Official Title as IntroducedTo amend titles XI, XVIII, and XIX of the Social Security Act to lower prescription drug prices in the Medicare and Medicaid programs, to improve transparency related to pharmaceutical prices and transactions, to lower patients' out-of-pocket costs, and to ensure accountability to taxpayers, and for other purposes.
Display TitleReduced Costs and Continued Cures Act of 2021
Short Title(s) as IntroducedReduced Costs and Continued Cures Act of 2021
Official Title as IntroducedTo amend titles XI, XVIII, and XIX of the Social Security Act to lower prescription drug prices in the Medicare and Medicaid programs, to improve transparency related to pharmaceutical prices and transactions, to lower patients' out-of-pocket costs, and to ensure accountability to taxpayers, and for other purposes.
Policy Areas
Health
Potential Impact
Accounting and auditing•
Administrative law and regulatory procedures•
Administrative remedies•
Appropriations•
Civil actions and liability•
Competition and antitrust•
Congressional oversight•
Consumer affairs•
Contracts and agency•
Department of Health and Human Services•
Digestive and metabolic diseases•
Drug safety, medical device, and laboratory regulation•
This bill establishes and alters several programs and requirements relating to the prices of prescription drugs.
For example, the bill establishes and alters several requi...
rements under Medicare and Medicaid, including
requiring drug manufacturers to issue rebates to the Centers for Medicare & Medicaid Services for covered drugs under Medicare that cost $100 or more and for which the average manufacturer price increases faster than inflation,
capping annual out-of-pocket spending under the Medicare prescription drug benefit, and
increasing the maximum rebate amount under the Medicaid Drug Rebate Program.
The bill also makes changes relating to market exclusivities and manufacturer price concessions for prescription drugs, including
authorizing the Federal Trade Commission to initiate proceedings against parties to settlements of patent infringement claims that have anticompetitive effects with respect to drugs or biologics,
limiting in certain instances the number of patents that the manufacturer of a biologic can assert in a lawsuit against a company seeking to sell a biosimilar version, and
nullifying regulations relating to the treatment of certain Medicare prescription drug benefit rebates from drug manufacturers for purposes of federal anti-kickback laws.
Latest Action11/1/2022
Referred to the Subcommittee on Courts, Intellectual Property, and the Internet.