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Fair Accountability and Innovative Research Drug Pricing Act of 2023

USA118th CongressS-935| Senate 
| Updated: 3/22/2023
Tammy Baldwin

Tammy Baldwin

Democratic Senator

Wisconsin

Cosponsors (3)
Mike Braun (Republican)Martin Heinrich (Democratic)Tina Smith (Democratic)

Health, Education, Labor, and Pensions Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
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.
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Timeline

Bill from Previous Congress

S 117-898
Fair Accountability and Innovative Research Drug Pricing Act of 2021

Bill from Previous Congress

S 116-1391
Fair Accountability and Innovative Research Drug Pricing Act of 2019
Mar 22, 2023
Introduced in Senate
Mar 22, 2023
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
  • Bill from Previous Congress

    S 117-898
    Fair Accountability and Innovative Research Drug Pricing Act of 2021


  • Bill from Previous Congress

    S 116-1391
    Fair Accountability and Innovative Research Drug Pricing Act of 2019


  • March 22, 2023
    Introduced in Senate


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

Health

Fair Accountability and Innovative Research Drug Pricing Act of 2023

USA118th CongressS-935| Senate 
| Updated: 3/22/2023
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.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline

Bill from Previous Congress

S 117-898
Fair Accountability and Innovative Research Drug Pricing Act of 2021

Bill from Previous Congress

S 116-1391
Fair Accountability and Innovative Research Drug Pricing Act of 2019
Mar 22, 2023
Introduced in Senate
Mar 22, 2023
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
  • Bill from Previous Congress

    S 117-898
    Fair Accountability and Innovative Research Drug Pricing Act of 2021


  • Bill from Previous Congress

    S 116-1391
    Fair Accountability and Innovative Research Drug Pricing Act of 2019


  • March 22, 2023
    Introduced in Senate


  • March 22, 2023
    Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Tammy Baldwin

Tammy Baldwin

Democratic Senator

Wisconsin

Cosponsors (3)
Mike Braun (Republican)Martin Heinrich (Democratic)Tina Smith (Democratic)

Health, Education, Labor, and Pensions Committee

Health

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted