To provide for the recoupment of a portion of the Federal investment in research and development supporting the production and sale of pharmaceutical, biologic, or genetic products.
Establishes a Public Investment Recovery Board to: (1) determine the total amount of profits for such a product; and (2) make calculations as required by this Act of the proportion of Federal support for research and development which lead to the production and sale of such a product. Prescribes a formula for determining the percentage of profits required to be paid.
Provides for the expiration of payments on the expiration of the initial patent issued for such product.
Allows: (1) not more than two percent of amounts in the Trust Fund to be used by the Food and Drug Administration or the National Institutes of Health (NIH) to support research and reports on the comparative efficiency and effectiveness of such products; (2) not more than 20 percent of amounts in the Trust Fund in the first five fiscal years after the enactment of this Act, and three percent in subsequent fiscal years, to be used to help pay the administrative expenses of carrying out this Act; and (3) not more than 20 percent of amounts in the Trust Fund to be used by NIH to support pharmaceutical, biologic, or genetic research and development, unless no Medicare prescription drug benefit has been enacted, in which case the remainder of the funds in such Fund may be used for a purpose authorized by this Act. Requires the remainder of such funds, if such a drug benefit has been enacted, to be used for the financing of such a benefit.
Introduced in House
Introduced in House
Referred to the Committee on Commerce, and in addition to the Committees on Science, and 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.
Referred to the Committee on Commerce, and in addition to the Committees on Science, and 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.
Referred to the Committee on Commerce, and in addition to the Committees on Science, and 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.
Referred to the Committee on Commerce, and in addition to the Committees on Science, and 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.
Sponsor introductory remarks on measure. (CR E1090)
Referred to the Subcommittee on Basic Research.
Referred to the Subcommittee on Health and Environment.
checking server…
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line