Elijah E. Cummings Lower Drug Costs Now Act

Sponsor: FRANK PALLONE (D-NJ)

This bill establishes several programs and requirements relating to the prices of prescription drugs, health care coverage and costs, and public health. TITLE I--LOWERING PRICES THROUGH FAIR DRUG PRICE NEGOTIATION The bill requires the Department of Health and Human Services (HHS) to negotiate prices for certain drugs. (Under current law, HHS may not negotiate the prices of covered drugs under the Medicare prescription drug benefit.) Specifically, HHS must negotiate maximum prices for (1) insulin products; (2) with respect to 2023, at least 25 single-source, brand-name drugs that do not have generic competition and that are among either the 125 drugs that account for the greatest national spending or the 125 drugs that account for the greatest spending under the Medicare prescription drug benefit and Medicare Advantage (MA); (3) beginning in 2024, at least 50 such single-source, brand-name drugs; and (4) newly approved single-source, brand-name drugs that meet or exceed a specified price threshold and that HHS determines are likely to meet the spending criteria.

Health Topic assigned by the Congressional Research Service.