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This bill establishes a new Bureau of Prescription Drug Affordability and Access within the Department of Health and Human Services to review and regulate prescription drug prices. The Bureau would conduct annual reviews of drug prices, require manufacturers to submit detailed cost and pricing information, and determine whether prices are appropriate based on factors including research and development costs, international pricing, and patient need. The bill appropriates $50 million annually to fund the Bureau's operations and requires annual reporting to Congress on savings achieved and drug affordability impacts.
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