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Main Subject: Health

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.

Senate Actions

IntroReferral
Mar. 22 2023	Read twice and referred to the Committee on Health, Education, Labor, and Pensions.

Library of Congress Actions

IntroReferral
Mar. 22 2023	Introduced in Senate

Senate bill S935-118

Fair Accountability and Innovative Research Drug Pricing Act of 2023

Senate bill S935-118

Fair Accountability and Innovative Research Drug Pricing Act of 2023

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