Prescription Drug Affordability and Access Act

The Prescription Drug Affordability and Access Act creates a new Bureau within Health and Human Services to lower prescription drug costs for patients. The Bureau will review drug prices annually, requiring manufacturers to submit detailed pricing data including research costs, profits, international comparisons, and patient impact information. If a drug's price is deemed too high, the Bureau can require manufacturers to lower prices and return excess revenue, or authorize other companies to produce the drug at a lower price. This bill directly affects drug manufacturers, patients, and government health programs like Medicare and Medicaid by giving the Bureau authority to regulate drug pricing.