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Code · BILL · 116th Congress · S. 2387 (Introduced in Senate) — To establish a process by which reasonable drug prices may be determined, and for other purposes. · Sec. 4

Sec. 4. National Academy of Medicine study on determining a reasonable drug price

345 words·~2 min read·/bill/116/s/2387/is/section-4·

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Not later than 60 days after the date of enactment of this Act, the Secretary shall seek to enter into a contract with the National Academy of Medicine (referred to in this section as the Academy ) under which the Academy agrees to study— how best to determine the reasonableness of a drug’s manufacturer list price and retail price and develop at least 1 framework for determining the reasonableness of a drug’s manufacturer list price and retail price taking into consideration— affordability of the drug to payers, purchasers, and patients across wide market segments in a manner that ensures equitable access; investment by the National Institutes of Health or any other Federal Government entity in the development of the drug; inclusion of research funded by the National Institutes of Health or other Federal Government entity in the development of the drug; manufacturer research and development costs as shown on the manufacturer’s Federal tax filing under sections 41 and 174 of the Internal Revenue Code of 1986; investment and the rate of return needs for the drug manufacturer; market for the drug; the cost of production and distribution of the drug; the price of the drug in other similar, industrialized countries; estimated global and domestic sales of the drug; gross and net expenditures by public payers for coverage of the drug under Federal health programs, to the extent available; and any additional information the Academy determines appropriate; an appropriate timeline for the submission of information to the Drug Affordability and Access Committee required under section 6(a)(2) to determine the reasonableness of a drug’s manufacturer list price and retail price; and an appropriate timeline for the Drug Affordability and Access Committee to determine the reasonableness of a drug’s manufacturer list price and retail price to be in effect the second year after coming to market.
Any contract between the Secretary and the Academy under this section shall include a requirement that the Academy submit a report on the results of the study described in subsection
(a)to the Secretary, the Drug Affordability and Access Committee, and Congress.
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