Prescription Drug Pricing Reduction Act of 2020

Summary

Prescription Drug Pricing Reduction Act of 2020 This bill alters several programs and requirements relating to the prices of prescription drugs under Medicare and Medicaid. Among other things, the bill requires drug manufacturers to issue rebates to the Centers for Medicare & Medicaid Services (CMS) for certain drugs covered under Medicare for which the average manufacturer price increases faster than inflation; requires drug manufacturers to issue rebates to the CMS for discarded amounts of certain single-dose drugs covered under Medicare, based on information reported by providers; reduces the annual out-of-pocket spending threshold, and eliminates beneficiary cost-sharing above this threshold, under the Medicare prescription drug benefit; requires the CMS to publish certain information, as reported by pharmacy benefit managers (PBMs), relating to drug discounts and rebates, and payments between PBMs, health plans, and pharmacies; requires pass-through pricing models, and prohibits spread-pricing, for payment arrangements with PBMs under Medicaid; and increases the maximum rebate payable by drug manufacturers under the Medicaid Drug Rebate Program.

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Timeline

1. 2 July 2020

   Introduced

   Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S4228)

   Source: IntroReferral

2. 2 July 2020

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 2 July 2020 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 2 July 2020

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 2 July 2020

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 2 July 2020

  Open at official source

Sponsors

• Chuck Grassley · R · Sponsor
• Sen. Portman, Rob [R-OH] · R · Sponsor
• Bill Cassidy · R · Sponsor
• Steve Daines · R · Sponsor
• Susan Collins · R · Sponsor
• Joni Ernst · R · Sponsor
• Martha McSally · R · Sponsor
• Sen. Braun, Mike [R-IN] · R · Sponsor
• Cindy Hyde-Smith · R · Sponsor
• Lisa Murkowski · R · Sponsor
• Dan Sullivan · R · Cosponsor
• · ssfi00 · Standing

Related records

• related to → Payment Commission Data Act of 2019
• related to → Payment Commission Data Act of 2019
• related to → Improving Low-Income Access to Prescription Drugs Act of 2019
• related to → Star Rating for Biosimilars Act
• related to → Capping Drug Costs for Seniors Act of 2019
• related to → Drug Price Transparency in Medicaid Act of 2019
• related to → GENE Therapy Payment Act
• related to → A bill to amend titles XVIII and XIX of the Social Security Act to provide the Medicare Payment Advisory Commission and the Medicaid and CHIP Payment and Access Commission with access to certain drug payment information, including certain rebate information.

Showing 8 of 11 related records.