Protect Drug Innovation Act

Bill: 117-s-4953
Sponsor: full_name: Sen. Lee, Mike [R-UT]
Introduced: 2022-09-27
Policy area: Health
Latest action: action_date: 2022-09-27
text: Read twice and referred to the Committee on Finance.

Summaries:
action_date: 2022-09-27
action_desc: Introduced in Senate
text: <p><b>Protect Drug Innovation Act</b></p> <p>This bill repeals several programs and requirements that were enacted under the Inflation Reduction Act of 2022 relating to the prices of prescription drugs, including (1) the Medicare Drug Price Negotiation Program, (2) provisions that require drug manufacturers to issue rebates for certain drugs under Medicare for which prices increase faster than inflation, and (3) provisions that cap annual out-of-pocket spending under the Medicare prescription drug benefit.</p>

tv_txt: II 117th CONGRESS 2d Session S. 4953 IN THE SENATE OF THE UNITED STATES September 27, 2022 Mr. Lee (for himself, Ms. Lummis , Mr. Lankford , and Mr. Rubio ) introduced the following bill; which was read twice and referred to the Committee on Finance A BILL To repeal prescription drug price control provisions of the Inflation Reduction Act.

1. Short title This Act may be cited as the Protect Drug Innovation Act . 2. Repeal of prescription drug price control provisions Effective on the date of the enactment of this Act, the provisions of parts 1, 2, and 3 of subtitle B of title I of Public Law 117–169 are repealed and the provisions of law amended by such parts are restored as if such parts had never been enacted.