H.R.1492 - To amend title XI of the Social Security Act to equalize the negotiation period between small-molecule and biologic candidates under the Drug Price Negotiation Program. (119th Congress)
Summary
H.R. 1492 aims to amend Title XI of the Social Security Act, specifically targeting the Drug Price Negotiation Program. The bill seeks to equalize the negotiation period for small-molecule drugs and biologic drugs. Currently, there is a discrepancy in the negotiation timeline, and this bill proposes to extend the negotiation period for small-molecule drugs to match that of biologic drugs.
Expected Effects
The primary effect of this bill, if enacted, would be to provide small-molecule drugs with a longer negotiation period under the Drug Price Negotiation Program. This could potentially influence drug pricing and market dynamics. It may also affect pharmaceutical companies' strategies related to drug development and pricing.
Potential Benefits
- Potentially lower drug prices for consumers due to extended negotiation periods.
- More balanced negotiation power between the government and pharmaceutical companies.
- Could encourage more investment in small-molecule drug development due to more predictable negotiation timelines.
- May lead to more sustainable pricing strategies for prescription drugs.
- Could reduce the financial burden on patients and the healthcare system.
Potential Disadvantages
- Pharmaceutical companies may argue that extending the negotiation period could stifle innovation.
- Potential for increased administrative costs associated with longer negotiation processes.
- Possible delays in the introduction of new drugs to the market.
- May face opposition from pharmaceutical industry lobbyists.
- The actual impact on drug prices may be limited depending on other market factors.
Constitutional Alignment
The bill appears to align with the general welfare clause of the Constitution, as it aims to reduce drug prices and improve healthcare access. Article I, Section 8 grants Congress the power to make laws that provide for the general welfare of the United States. The bill does not appear to infringe on any specific constitutional rights or limitations.
Impact Assessment: Things You Care About ⓘ
This action has been evaluated across 19 key areas that matter to you. Scores range from 1 (highly disadvantageous) to 5 (highly beneficial).