3.0.0 2387 2022-11-01T13:50:13Z 2022-11-01T13:50:13Z Senate S 2019-07-31 116 sshr00 Health, Education, Labor, and Pensions Committee Senate Standing Referred to 2019-07-31T20:36:30Z 2019-07-31 sshr00 Health, Education, Labor, and Pensions Committee Senate Read twice and referred to the Committee on Health, Education, Labor, and Pensions. IntroReferral 2019-07-31 Introduced in Senate IntroReferral 10000 9 Library of Congress V000128 Sen. Van Hollen, Chris [D-MD] Chris Van Hollen D MD N S001217 Sen. Scott, Rick [R-FL] Rick Scott R FL 2019-07-31 True Health Business ethics Business records Civil actions and liability Competition and antitrust Congressional oversight Government ethics and transparency, public corruption Government information and archives Government studies and investigations Health care costs and insurance Health programs administration and funding Health technology, devices, supplies Inflation and prices Intellectual property Licensing and registrations Medical research Prescription drugs Public contracts and procurement Research administration and funding Research and development Retail and wholesale trades Tax-exempt organizations Health 00 2019-07-31 Introduced in Senate 2021-03-04T16:09:43Z We Protect American Investment in Drugs Act or the We PAID Act

This bill limits the price of certain prescription drugs that rely on patents developed with federal support.

The bill requires the Department of Health and Human Services to contract with the National Academy of Medicine to conduct a study for determining the reasonableness of the price of such prescription drugs. The bill also establishes the Drug Affordability and Access Committee, which must use the study to develop a methodology and then determine whether the price of each applicable drug is reasonable after the drug enters the market.

Further, the bill establishes certain pricing requirements for such prescription drugs. First, the manufacturer must submit to the committee the list and retail prices for the drug as well as specified expenditure information. Second, after a drug is on the market for one year, the manufacture must set the drug’s list price at no more than the committee’s reasonable price determination. Third, subsequent price increases are capped at the annual percentage change in the medical care consumer price index for prescription drugs. The penalties for noncompliance with these requirements include expiration of marketing exclusivity, fines, and prohibitions on entering licensing agreements for the applicable drug.

Additionally, the bill revises the patent application requirements for drugs to include the disclosure of specified federal grants.

]]> We PAID Act Display Title We PAID Act Short Title(s) as Introduced We PAID Act Introduced in Senate IS Short Title(s) as Introduced We Protect American Investment in Drugs Act Introduced in Senate IS Official Title as Introduced A bill to establish a process by which reasonable drug prices may be determined, and for other purposes. Introduced in Senate IS Introduced in Senate 2019-07-31T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116s2387is/xml/BILLS-116s2387is.xml 2019-07-31 Read twice and referred to the Committee on Health, Education, Labor, and Pensions. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.