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Fair Accountability and Innovative Research Drug Pricing Act of 2023

12/15/2023, 4:06 PM

Congressional Summary of S 935

Fair Accountability and Innovative Research Drug Pricing Act of 2023

This bill requires manufacturers to report about certain price increases for prescription drugs and biological products with a wholesale cost of at least $100 per month.

Such reports must include, among other information (1) the percentage price increase, (2) a justification for such increase, (3) the price history of the drug, (4) the total cost to develop the drug, and (5) the total revenue and net profit generated from the drug. Manufacturers are subject to civil penalties for failing to comply with the bill's requirements. Additionally, the Food and Drug Administration must post the information on its website.

Current Status of Bill S 935

Bill S 935 is currently in the status of Bill Introduced since March 22, 2023. Bill S 935 was introduced during Congress 118 and was introduced to the Senate on March 22, 2023.  Bill S 935's most recent activity was Read twice and referred to the Committee on Health, Education, Labor, and Pensions. as of March 22, 2023

Bipartisan Support of Bill S 935

Total Number of Sponsors
1
Democrat Sponsors
1
Republican Sponsors
0
Unaffiliated Sponsors
0
Total Number of Cosponsors
0
Democrat Cosponsors
0
Republican Cosponsors
0
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill S 935

Primary Policy Focus

Health

Comments

Sponsors and Cosponsors of S 935

Tammy Baldwin
Tammy Baldwin
WisconsinDemocrat
Tina Smith
Tina Smith
MinnesotaDemocrat
Mike Braun
Mike Braun
IndianaRepublican

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