Bill 119 s 832, also known as the Equalizing Negotiation Periods for Small-Molecule and Biologic Candidates Act, aims to make changes to title XI of the Social Security Act. Specifically, the bill seeks to ensure that the negotiation period for small-molecule and biologic candidates under the Drug Price Negotiation Program is equalized.
Currently, there is a discrepancy in the negotiation periods for small-molecule and biologic candidates, with biologic candidates having a longer negotiation period. This bill aims to address this disparity by equalizing the negotiation period for both types of candidates.
The Drug Price Negotiation Program is a program that allows the government to negotiate drug prices with manufacturers in order to lower costs for consumers. By equalizing the negotiation period for small-molecule and biologic candidates, this bill aims to ensure that both types of drugs are subject to the same negotiation process, ultimately leading to more equitable pricing for consumers.
Overall, Bill 119 s 832 seeks to promote fairness and transparency in the drug pricing process by ensuring that all candidates are subject to the same negotiation period under the Drug Price Negotiation Program.