Summary: S.3094 — 114th Congress (2015-2016)All Information (Except Text)

There is one summary for S.3094. Bill summaries are authored by CRS.

Shown Here:
Introduced in Senate (06/23/2016)

Price Relief, Innovation, and Competition for Essential Drugs Act or the PRICED Act

This bill amends the Public Health Service Act to allow biosimilars to be marketed seven years after the reference brand name biological product is licensed. Currently, brand name biological products are provided a 12-year marketing exclusivity period.

This shortened marketing exclusivity period applies only to biological products licensed by the Food and Drug Administration after enactment of this bill.