PRICED Act

Hozzl · 2022-12-30T00:04:02Z

Explore the details of House Bill 7828 PRICED Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Health. Stay informed on legislative developments.

12/30/2022, 12:04 AM

Summary of Bill HR 7828

The PRICED Act, also known as Bill 117 hr 7828, is a piece of legislation currently being considered by the US Congress. The main goal of this bill is to address the issue of prescription drug pricing in the United States.

The PRICED Act aims to increase transparency in the pharmaceutical industry by requiring drug manufacturers to disclose the costs associated with producing and marketing their medications. This information would then be made available to the public, allowing consumers to better understand why certain drugs are priced the way they are.

Additionally, the bill seeks to promote competition in the market by allowing for the importation of cheaper prescription drugs from other countries. This would give consumers more options when it comes to purchasing their medications and could potentially drive down prices. Furthermore, the PRICED Act includes provisions to prevent drug manufacturers from engaging in anti-competitive practices, such as pay-for-delay agreements that delay the entry of generic drugs into the market. This would help to ensure that consumers have access to affordable medications. Overall, the PRICED Act is aimed at addressing the issue of high prescription drug prices in the United States by increasing transparency, promoting competition, and preventing anti-competitive practices in the pharmaceutical industry.

Congressional Summary of HR 7828

Price Relief, Innovation, and Competition for Essential Drugs Act or the PRICED Act

This bill allows biosimilars to be marketed five years after the reference brand-name biological product is licensed. Currently, brand-name biological products are provided a 12-year marketing-exclusivity period.

This shortened marketing-exclusivity period applies only to biological products licensed by the Food and Drug Administration after enactment of this bill.

Read the Full Bill

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Current Status of Bill HR 7828

Bill HR 7828 is currently in the status of Bill Introduced since May 18, 2022. Bill HR 7828 was introduced during Congress 117 and was introduced to the House on May 18, 2022. Bill HR 7828's most recent activity was Referred to the House Committee on Energy and Commerce. as of May 18, 2022

Bipartisan Support of Bill HR 7828

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 7828

Primary Policy Focus

Health

Alternate Title(s) of Bill HR 7828

PRICED ActPRICED ActPrice Relief, Innovation, and Competition for Essential Drugs ActTo amend the Public Health Service Act to shorten the exclusivity period for brand name biological products from 12 to 5 years.

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