This bill protects small biotech companies from having their drug prices negotiated by Medicare, encouraging them to invest in research and development. It aims to support innovation in the biotech industry.
1. This bill creates an exception for small biotech manufacturers in drug price negotiations. 2. It allows these manufacturers to avoid price negotiations if they meet certain criteria. 3. The bill defines a small biotech manufacturer based on the number of qualifying drugs they have. 4. It requires these manufacturers to invest a specific percentage of their revenue in research and development. 5. The exception applies starting in 2029 for qualifying drugs.
Small biotech manufacturers that produce innovative drugs and invest in research.