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119-hr-3375119th CongressWALLET

Fair Prescription Drug Prices for Americans Act

Sponsored By: Representative Van Drew, Jefferson [R-NJ-2]

Introduced

Summary

Caps U.S. retail list prices for prescription drugs and biologic products to the average price in six other wealthy countries. The bill would create an international reference pricing system, require annual manufacturer price reporting, and impose per‑unit civil penalties for violations.

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  • Families and households: Would limit how high a drug or biological product’s U.S. retail list price can be by tying the cap to the average price in Canada, France, Germany, Italy, Japan, and the United Kingdom. This targets the listed price that appears in the U.S.
  • Drug manufacturers: Must submit annual U.S. list prices and list prices in the six reference countries. Manufacturers that exceed the cap face a civil penalty equal to the per‑unit U.S. price difference times 10, assessed per unit sold.
  • Health agencies and enforcement: The Secretary of Health and Human Services would annually calculate the international average using manufacturer reports and public filings, issue guidance, and write regulations to run the calculation and enforce the penalties. The bill also defines who counts as a “drug,” a “biological product,” and the “Secretary.”

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Bill Overview

Analyzed Economic Effects

2 provisions identified: 2 benefits, 0 costs, 0 mixed.

Cap U.S. drug prices to global average

If enacted, the U.S. list price for any covered drug or biologic could not exceed a six‑country average. HHS would calculate the average each year for Canada, France, Germany, Italy, Japan, and the UK. If a company sells above the cap, it would owe a penalty equal to 10 times the per‑unit difference, charged per unit sold.

Drug makers report prices each year

Manufacturers would have to report the U.S. list price and the list price in six countries each year. HHS would use company data and public filings to compute each drug’s international average price. The bill would define which drugs and biologics are covered and that the Secretary is HHS.

Sponsors & CoSponsors

Sponsor

Van Drew, Jefferson [R-NJ-2]

NJ • R

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

No roll call votes available for this bill.

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