S.474 - Stopping the Pharmaceutical Industry from Keeping drugs Expensive (SPIKE) Act of 2019116th Congress (2019-2020) |
|Sponsor:||Sen. Wyden, Ron [D-OR] (Introduced 02/13/2019)|
|Committees:||Senate - Finance|
|Latest Action:||Senate - 02/13/2019 Read twice and referred to the Committee on Finance. (All Actions)|
This bill has the status Introduced
Here are the steps for Status of Legislation:
- Passed Senate
- Passed House
- To President
- Became Law
Summary: S.474 — 116th Congress (2019-2020)All Information (Except Text)
Introduced in Senate (02/13/2019)
Stopping the Pharmaceutical Industry from Keeping Drugs Expensive (SPIKE) Act of 2019
This bill requires 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.