No Big Blockbuster Bailouts Act

S 3019, the "No Big Blockbuster Bailouts Act," amends Medicare's drug price negotiation program to change how orphan drugs (treatments for rare diseases) are handled. It raises the revenue threshold from $200 million to $400 million before orphan drugs become subject to price negotiations under Medicare. This directly affects pharmaceutical companies developing drugs solely for rare diseases, as they will face price negotiations only if their annual U.S. revenue exceeds $400 million. The change applies to initial price negotiations starting January 1, 2028.