Fair Prescription Drug Prices for Americans Act

HR 3375, the Fair Prescription Drug Prices for Americans Act, sets a cap on the U.S. list price for prescription drugs and biological products, limiting it to the average price charged in Canada, France, Germany, Italy, Japan, and the United Kingdom. Drug manufacturers must annually report U.S. and international list prices to the Health and Human Services Secretary, who calculates the average price for each drug. Manufacturers violating the price cap face civil penalties equal to 10 times the price difference per unit sold in the U.S. The bill directly affects drug manufacturers by restricting U.S. pricing and imposing financial penalties for noncompliance.