Medicare would have to wait longer to negotiate prices for small-molecule drugs. The wait would rise from 7 years to 11 years after approval. The bill treats that change as if it had been in the original law from day one.
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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. is a House bill in committee. The latest recorded action: Referred to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Latest action on H.R. 1492: Referred to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Who this affects: This bill mainly affects drug companies that sell small-molecule drugs, because they would get more time before Medicare could negotiate prices. It also affects Medicare, since the program would have to wait longer before it could seek lower prices on those drugs. People on Medicare could be affected too, but the bill does not say exactly how much it would change premiums or out-of-pocket costs. Companies that make biologic drugs are affected less directly, because their 11-year timeline would stay the same.
Why this matters: This matters because it changes when Medicare can try to lower prices for some drugs. A later start could give drug makers more time to sell at higher prices before negotiation begins. Supporters may see that as a better match with the rule for biologic drugs and a possible boost for research spending. Critics may see it as a delay in possible savings for Medicare and its enrollees. Because the bill applies as if it had been in the law from the start, it could also change which drugs are considered eligible now or soon.
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