S. 4953 · 117th Congress
Protect Drug Innovation Act
- Stage
- In committee
- Sponsor
- Mike Lee
- Introduced
- 2022-09-27
- Latest action
- 2022-09-27 · Introduced in Senate
Summary
Protect Drug Innovation Act
This bill repeals several programs and requirements that were enacted under the Inflation Reduction Act of 2022 relating to the prices of prescription drugs, including (1) the Medicare Drug Price Negotiation Program, (2) provisions that require drug manufacturers to issue rebates for certain drugs under Medicare for which prices increase faster than inflation, and (3) provisions that cap annual out-of-pocket spending under the Medicare prescription drug benefit.