Prescription Drug Supply Chain Pricing Transparency Act

Hozzl · 2024-03-13T02:13:12Z

Explore the details of Senate Bill 2198 Prescription Drug Supply Chain Pricing Transparency Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Health. Stay informed on legislative developments.

3/13/2024, 2:13 AM

Summary of Bill S 2198

Bill 118 s 2198, also known as the Prescription Drug Supply Chain Pricing Transparency Act, aims to increase transparency in the pricing of prescription drugs within the supply chain. The bill was introduced in the US Congress with the goal of addressing concerns about rising drug prices and the lack of transparency in how these prices are determined.

The key provisions of the bill include requiring drug manufacturers to provide information on the pricing of prescription drugs, including the costs of production, research and development, and marketing. This information would be made publicly available to help consumers and policymakers better understand the factors that contribute to the high cost of prescription drugs.

Additionally, the bill would require pharmacy benefit managers (PBMs) to disclose any rebates or discounts they receive from drug manufacturers, as well as any fees or payments they receive from pharmacies. This transparency is intended to ensure that PBMs are not engaging in practices that could drive up drug prices for consumers. Overall, the Prescription Drug Supply Chain Pricing Transparency Act seeks to shed light on the complex pricing dynamics within the prescription drug supply chain and empower consumers to make more informed decisions about their healthcare. The bill is currently under consideration in Congress and has garnered bipartisan support for its efforts to increase transparency and accountability in the pharmaceutical industry.

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Current Status of Bill S 2198

Bill S 2198 is currently in the status of Bill Introduced since June 22, 2023. Bill S 2198 was introduced during Congress 118 and was introduced to the Senate on June 22, 2023. Bill S 2198's most recent activity was Read twice and referred to the Committee on Finance. as of June 22, 2023

Bipartisan Support of Bill S 2198

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 S 2198

Primary Policy Focus

Health

Alternate Title(s) of Bill S 2198

Prescription Drug Supply Chain Pricing Transparency ActPrescription Drug Supply Chain Pricing Transparency ActA bill to require the Comptroller General of the United States to conduct a study and submit a report on price-related compensation and payment structures in the prescription drug supply chain.

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Sponsors and Cosponsors of S 2198

Michael F. Bennet

Colorado(Democrat)

James Lankford

Oklahoma(Republican)

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