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AMERICAN DRUGS Act
12/7/2023, 5:06 PM
Summary of Bill S 2683
The AMERICAN DRUGS Act aims to increase transparency in the pharmaceutical industry by requiring drug manufacturers to disclose the costs associated with producing their medications. This information would then be made available to the public in order to promote greater understanding of how drug prices are determined.
Additionally, the bill seeks to promote competition in the pharmaceutical market by allowing for the importation of lower-cost prescription drugs from other countries. This would provide consumers with more affordable options for their medications and help to drive down prices in the US market. Furthermore, the AMERICAN DRUGS Act includes provisions to increase funding for research and development of new drugs, with the goal of bringing more innovative and effective medications to market. This would help to ensure that patients have access to the latest treatments and therapies. Overall, the AMERICAN DRUGS Act is a comprehensive piece of legislation that aims to address the issue of high drug prices in the United States through increased transparency, competition, and investment in research and development.
Congressional Summary of S 2683
Accelerating Movement of Essential Rx Items to Create Access to National Drug Resources for US Government Services Act or the AMERICAN DRUGS Act
This bill generally limits coverage of generic drugs under federal health care programs to those that are manufactured domestically.
Specifically, the bill prohibits coverage of generic drugs that are manufactured in foreign countries under Medicare, Medicaid, the Children's Health Insurance Program (CHIP), TRICARE, and benefits provided by the Veterans' Administration. Coverage is permitted for foreign-made generic drugs if there are fewer than two other generic versions that are manufactured domestically or if the generic versions that are manufactured domestically are in shortage or soon to be discontinued. The Food and Drug Administration (FDA) must notify appropriate agencies about brand-name drugs that have at least two generic versions that are manufactured domestically and those that do not.Â
The bill also allows the FDA to expedite the development and review of applications for generic versions of brand-name drugs that do not have at least two generic versions that are manufactured domestically.
