Fair Prescription Drug Prices for Americans Act

House Votes

This bill aims to lower drug prices by tying U.S. retail list prices for prescription drugs and biologic medicines to what other countries pay. It says a drug’s U.S. retail list price cannot be higher than the average retail list price in Canada, France, Germany, Italy, Japan, and the United Kingdom. The Health and Human Services Secretary must figure out these average prices each year using data from drug makers and public records.

If a company charges more than the cap, it faces a financial penalty for each unit sold equal to the difference between the U.S. price and the six-country average, multiplied by how many units it sold. Drug makers must report their U.S. and foreign list prices every year, and the Secretary will issue rules to put this policy into action.

• Who is affected: People who buy prescription drugs in the U.S.; drug and biologic manufacturers
• What changes: U.S. retail list prices cannot exceed the average in six other countries; yearly price reporting is required
• How it’s enforced: Per‑unit financial penalties if the cap is broken
• When: The Secretary calculates the averages annually and will set detailed rules to implement the policy