S.1348 - Stopping the Pharmaceutical Industry from Keeping Drugs Expensive (SPIKE) Act of 2017115th Congress (2017-2018)
|Sponsor:||Sen. Wyden, Ron [D-OR] (Introduced 06/13/2017)|
|Committees:||Senate - Finance|
|Latest Action:||Senate - 06/13/2017 Read twice and referred to the Committee on Finance. (All Actions)|
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Summary: S.1348 — 115th Congress (2017-2018)All Information (Except Text)
Introduced in Senate (06/13/2017)
Stopping the Pharmaceutical Industry from Keeping Drugs Expensive (SPIKE) Act of 2017
This bill amends title XI (General Provisions) of the Social Security Act to require manufacturers of drugs with specified percentage increases in their wholesale costs to submit to the Centers for Medicare & Medicaid Services (CMS) written justification for certain increases in drug prices. The CMS shall publish each submission, together with an easily understandable summary, on its website. Certain proprietary information may be excluded from publication, as specified by the bill.
A manufacturer that does not comply with the bill's requirements shall be subject to civil monetary penalties.