S. 1587

119 S1587 IS: Fair Prescription Drug Prices for Americans Act
 U.S. Senate
 2025-05-05
 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.
 II  119th CONGRESS  1st Session  S. 1587  IN THE SENATE OF THE UNITED STATES   May 5, 2025   Mr. Hawley  (for himself and  Mr. Welch ) introduced the following bill; which was read twice and referred to the  Committee on Health, Education, Labor, and Pensions    A BILL
To require that the retail list price for certain prescription drugs and biological products may not exceed the average retail list price for the drug or biological product among certain nations.
1.
Short title
This Act may be cited as the   Fair Prescription Drug Prices for Americans Act  .
2.
International reference pricing for prescription drugs and biological products
(a)
Definitions
In this section:
(1)
Biological product
The term  biological product  means a biological product licensed under subsection (a) or (k) of section 351 of the Public Health Service Act ( 42 U.S.C. 262 ).
(2)
Drug
The term  drug  means a drug approved under subsection (c) or (j) of section 505 of the Federal Food, Drug, and Cosmetic Act ( 21 U.S.C. 355 ).
(3)
Secretary
The term  Secretary  means the Secretary of Health and Human Services.
(b)
Cap on retail list price of prescription drugs and biological products
The retail list price in the United States for a drug or a biological product may not exceed the average retail list price for the drug or biological product among Canada, France, Germany, Italy, Japan, and the United Kingdom, as calculated under subsection (c).
(c)
Calculation of average retail list price
The Secretary shall calculate on an annual basis the average retail list price for each drug and biological product sold in Canada, France, Germany, Italy, Japan, and the United Kingdom, through a combination of data reported by manufacturers of drugs and biological products under subsection (e) and data obtained through review of publicly filed materials by manufacturers of drugs and biological products in such countries.
(d)
Civil monetary penalty
(1)
In general
Any manufacturer that violates subsection (b) with respect to a drug or biological product shall be subject to a civil monetary penalty imposed by the Secretary in amount equal to the product obtained by multiplying—
(A)
the difference between—
(i)
the list price for the drug or biological product sold in the United States; and
(ii)
the average retail list price for the drug or biological product sold in Canada, France, Germany, Italy, Japan, and the United Kingdom, as calculated under subsection (c); and
(B)
10.
(2)
Requirement
The amount of a civil monetary penalty under paragraph (1) shall be calculated and charged for each unit of drug or biological product sold.
(e)
Data collection
Each manufacturer of a drug or biological product shall submit to the Secretary on an annual basis—
(1)
the list price for the drug or biological product sold in the United States; and
(2)
the list price for the drug or biological product sold in each of Canada, France, Germany, Italy, Japan, and the United Kingdom.
(f)
Guidance and regulations
The Secretary shall issue guidance and promulgate regulations to implement this section.