Fair Accountability and Innovative Research Drug Pricing Act of 2023

Hozzl · 2023-12-15T16:06:47Z

Explore the details of Senate Bill 935 Fair Accountability and Innovative Research Drug Pricing Act of 2023 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Health. Stay informed on legislative developments.

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