House Hearing on Lowering Rx Drug Prices

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The House Energy and Commerce Health Subcommittee has announced a 5/4 hearing to discuss legislative proposals to lower prescription drug costs. Focal point of the hearing will be the Elijah E. Cummings Lower Drug Costs Now Act, a bill to require HHS to negotiate maximum prices for: (1) insulin products; (2) with respect to FY 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; (3) beginning in FY2024, 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.

Among other actions, the measure would provide additional funds for innovation projects at FDA through FY 2029, and it would establish the Opioid Epidemic Response Fund to support HHS-related programs and initiatives.

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