To amend the Public Health Service Act to shorten the exclusivity period for brand name biological products from 12 to 7 years.

Price Relief, Innovation, and Competition for Essential Drugs Act or the PRICED Act This bill amends the Public Health Service Act to allow biosimilars to be marketed seven years after the reference brand name biological product is licensed. Currently, brand name biological products are provided a 12-year marketing exclusivity period. This shortened marketing exclusivity period applies only to biological products licensed by the Food and Drug Administration after enactment of this bill.