Legislation Proposed to Curb Research Drug Costs, Improve Trial Transparency
Two new bicameral bills introduced in Congress would seek to rein in research spending by forcing drugmakers to disclose their clinical trial costs and sell certain drugs/biologics at the manufacturer’s cost when they’re used in clinical trials. They will next be discussed in committee or subcommittee meetings.
The Pharmaceutical Research and Transparency Act of 2022, introduced by Rep. Carolyn Maloney (D-N.Y.) and Sens. Debbie Stabenow (D-Mich.) and Tina Smith (D-Minn.), is aimed at addressing a lack of transparency around the costs drug companies incur for clinical trials.
Specifically, the bill would establish a public database and require companies to submit cost data to it within a year of a trial’s conclusion. In addition, the legislation would charge drugmakers with sharing their trial costs in yearly securities filings.
The Discounted Drugs for Clinical Trials Act, introduced by the same people, would allow researchers to purchase expensive drugs and biologics at a price no greater than what they cost to manufacture as long as the products are being used in research.
Read the Pharmaceutical Research and Transparency Act of 2022 bill here: https://bit.ly/3jzbUzX.
Read the Discounted Drugs for Clinical Trials Act here: https://bit.ly/38IlJcV.