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Pharmaceutical Research Transparency Act of 2023

12/15/2023, 3:57 PM

Summary of Bill HR 3160

The Pharmaceutical Research Transparency Act of 2023, also known as Bill 118 hr 3160, is a piece of legislation currently being considered by the US Congress. The main goal of this bill is to increase transparency in the pharmaceutical industry by requiring drug companies to disclose more information about their research and development processes.

Under this bill, pharmaceutical companies would be required to provide detailed information about the clinical trials they conduct, including the results of those trials and any adverse effects experienced by participants. This information would be made publicly available on a centralized database, allowing researchers, healthcare providers, and the general public to access and analyze it.

Additionally, the Pharmaceutical Research Transparency Act of 2023 aims to address concerns about conflicts of interest in the pharmaceutical industry by requiring companies to disclose any financial relationships they have with healthcare providers, researchers, or patient advocacy groups. This information would also be made publicly available to ensure transparency and accountability. Overall, the goal of this bill is to promote transparency and accountability in the pharmaceutical industry, ultimately leading to better-informed decision-making by healthcare providers and patients. It is currently being debated in Congress, with supporters arguing that it will help to improve the safety and effectiveness of drugs, while opponents raise concerns about the potential impact on innovation and drug development.

Congressional Summary of HR 3160

Pharmaceutical Research Transparency Act of 2023

This bill requires the disclosure of costs associated with clinical trials and pharmaceutical research and development.

Specifically, the National Institutes of Health must create a publicly available repository of cost data from certain clinical trials that test the efficacy of drugs, biological products, and devices in human subjects. For each applicable trial, the registry must, among other information, include the total and per patient cost of the trial, as well as costs for personnel, health care services, and other categories of expenditures. Information must be added to the registry within one year of the trial's completion.

The bill also requires drug manufacturers to include their research and development expenditures for drugs and biological products in annual disclosures made to the Securities and Exchange Commission.

Read the Full Bill

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Current Status of Bill HR 3160

Bill HR 3160 is currently in the status of Bill Introduced since May 9, 2023. Bill HR 3160 was introduced during Congress 118 and was introduced to the House on May 9, 2023.  Bill HR 3160's most recent activity was Referred to the Subcommittee on Health. as of May 12, 2023

Bipartisan Support of Bill HR 3160

Total Number of Sponsors
1
Democrat Sponsors
1
Republican Sponsors
0
Unaffiliated Sponsors
0
Total Number of Cosponsors
2
Democrat Cosponsors
2
Republican Cosponsors
0
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill HR 3160

Primary Policy Focus

Health

Potential Impact Areas

- Administrative law and regulatory procedures
- Department of Health and Human Services
- Government information and archives
- Manufacturing
- Medical research
- Prescription drugs
- Research and development

Alternate Title(s) of Bill HR 3160

Pharmaceutical Research Transparency Act of 2023
Pharmaceutical Research Transparency Act of 2023
To amend the Public Health Service Act to increase the transparency of pharmaceutical research costs, and for other purposes.

Comments

Sponsors and Cosponsors of HR 3160

Jamie Raskin
Jamie Raskin
MarylandDemocrat
Elissa Slotkin
Elissa Slotkin
MichiganDemocrat

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